The number of Americans filing new claims for unemployment benefits increased in the final week of May, suggesting some softening in the labor market.
According to data released by the U.S. Department of Labor, seasonally adjusted initial jobless claims rose to 247,000 for the week ending May 31. This represents an increase of 8,000 from the previous week’s revised level of 239,000. The original figure for that week had been reported as 240,000.
The four-week moving average for initial claims, which helps smooth out weekly volatility, also rose. It reached 235,000, up by 4,500 from the prior week’s revised average of 230,500. This upward trend indicates a gradual rise in new applications for unemployment assistance.
Meanwhile, the data for continuing claims, which reflect the number of individuals still receiving unemployment benefits, presented a more mixed picture. For the week ending May 24, the seasonally adjusted insured unemployment rate fell slightly to 1.2%, down by 0.1 percentage point.
Continuing claims decreased by 3,000 to a total of 1,904,000. This followed a downward revision of the prior week's figure, which was adjusted from 1,919,000 to 1,907,000.
However, the four-week moving average of continuing claims edged higher, reaching 1,895,250. This is an increase of 8,000 from the previous week’s revised average of 1,887,250. It marks the highest level for this average since late November 2021, when it stood at 1,923,500.
The latest figures point to a labor market that remains relatively resilient but may be beginning to feel the effects of tighter monetary policy and broader economic uncertainty. Economists will closely monitor upcoming employment reports to assess whether these trends signal a more sustained slowdown.
The US dollar held firm on Monday as traders remained cautious ahead of the August 1 tariff deadline. EUR/USD slipped to 1.1620, while GBP/USD stayed near a two-month low after UK labor data showed a rising jobless rate.
DetailThe US dollar index rose to 99 this week, up 0.8% on strong data and fading Fed cut bets. The euro stayed below $1.17, while the yen hit a 15-week low near ¥148 on fiscal worries. The British pound dropped 0.5% to $1.34 after weak UK GDP data and rising BoE cut expectations.
Detail Dollar Strength Pressures Euro and Gold, Silver Rebounds (07.18.2025)The U.S. dollar regained strength on Friday after solid retail sales and jobless claims data reduced near-term Fed rate cut expectations. The euro fell to $1.16, its lowest in nearly a month, while the pound slipped to an eight-week low near $1.339
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