Overview

• Applications for US unemployment benefits increased by 8,000 to a seasonally adjusted 247,000 in the week ending May 31, marking a second straight weekly rise.
• Continuing claims fell by 3,000 to 1.904 million in the week ending May 24, indicating a modest pullback in ongoing benefit recipients.
• The Federal Reserve’s Beige Book reported widespread hiring delays and reduced labor demand across all districts as businesses grapple with policy uncertainty.
• A Reuters poll of economists projects nonfarm payrolls rose by about 130,000 jobs in May with the jobless rate steady at 4.2 percent.
• Economists expect weekly jobless claims to exceed their 205,000–243,000 range for 2025 due to seasonal adjustment challenges and trade-policy uncertainty.