Overview

• The Labor Department reported a drop of 6,000 in first-time unemployment claims for the week ending June 22.
• Continuing claims, which represent those receiving benefits for more than a week, increased to 1.839 million.
• This marks the highest level of continuing claims since November 2021, indicating potential difficulties in finding new employment.
• The four-week average of initial claims rose to 236,000, reflecting recent volatility.
• Despite the rise in continuing claims, overall job security remains relatively strong by historical standards.