16 July
US labor market shows signs of cooling
For the week ending June 14, initial US jobless claims fell by 5,000 to 245,000. The indicator has stabilized near its highest level in eight months, matching forecasts of economists surveyed by Bloomberg.
According to the US Labor Department data released Wednesday, continuing jobless claims also edged down, reaching 1.95 million for the previous week.
Analysts of the news agency note that these figures often tend to be volatile during holidays or school summer breaks. Overall, initial jobless claims in America have trended upward over the past two months, reflecting a gradual slowdown in the labor market.
Hiring momentum has slowed. Continuing jobless claims remain near their highest levels since late 2021. Bloomberg-quoted strategists say that Americans now need more time to find a new job.
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