US Jobless Claims Rise to 199,000 as June Hiring Slows to 57,000
Updated
Updated · The Associated Press · Aug 6
US Jobless Claims Rise to 199,000 as June Hiring Slows to 57,000
3 articles · Updated · The Associated Press · Aug 6
Summary
199,000 Americans filed new jobless claims in the week ended Aug. 1, up 1,000 from the prior week, keeping layoffs in a historically low range.
198,750 was the four-week average after a 4,500 drop, but the labor market is softening through slower hiring rather than broad-based job cuts.
57,000 jobs were added in June, less than half May’s pace, while the unemployment rate dipped to 4.2% largely because some job seekers stopped looking.
3.7% PCE inflation in June remains above the Fed’s 2% target, leaving open the risk of higher rates that could further restrain hiring ahead of Friday’s July jobs report.