Jobless Claims Surpass Expectations and Reach the Highest Level since October 2021
The Department of Labor reported that initial filings for unemployment benefits rose by 28,000 to a seasonally adjusted 261,000 for the week ending on June 3, which could indicate a softening labor market despite a year of interest rate hikes. The four-week moving average of claims increased by 7,500 to 237,250, the highest recorded since …