US Weekly Jobless Claims Decrease, But Long-Term Unemployment Rises
Initial unemployment claims fall to 233,000, while continuing claims reach highest level since 2021.
- 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.
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