US Jobless Claims Edge Down, Labor Market Still Resilient

Initial jobless claims in the United States declined slightly in the week ending June 28, totaling 233,000, down by 4,000 from the previous week’s revised figure of 237,000 (initially reported at 236,000), according to the U.S. Department of Labor.

The four-week moving average, considered a more reliable gauge of labor market trends due to reduced volatility, also decreased — settling at 241,500, down by 3,750 from the previous week’s revised average.

Meanwhile, continuing claims — those filed by individuals who have already received unemployment benefits — held steady at 1.964 million in the week ending June 21. That figure was unchanged from the previous week’s revised number (down from an initial 1.974 million) and slightly above market expectations of 1.960 million.

The data suggests that while the labor market is showing signs of cooling, it remains broadly resilient, with no sharp rise in unemployment yet in sight.