U.S. Initial Jobless Claims Rise to 229,000, Hitting 4-Month High on June 11

According to the U.S. Department of Labor released on June 11, initial jobless claims rose by 4,000 to 229,000 for the week ending June 6, exceeding economist expectations of 220,000 and marking the highest level since February. The four-week moving average climbed for a third consecutive week.

Continuing jobless claims increased by 24,000 to 1.795 million for the week ending May 30, reaching a two-month high. Despite the uptick, analysts noted that current levels remain in historically low ranges, indicating the U.S. labor market retains underlying resilience. May's nonfarm payroll report showed employment growth for a third consecutive month, with unemployment holding steady at 4.3%.