Weekly jobless claims nudged higher while the U.S. trade deficit hit its lowest level of the year in May as Covid-related shutdowns gripped China, according to economic data released Thursday.
Initial filings for unemployment benefits totaled 235,000 for the week ended July 2, a gain of 4,000 from the previous period and slightly more than the 230,000 Dow Jones estimate, according to the Labor Department. The total was the highest since Jan. 15 and raised the four-week moving average to 232,500, its highest level since December 2021.
Continuing claims, which run a week behind, also moved up, rising 51,000 to 1.375 million, higher than the 1.337 million FactSet estimate.
Also on Thursday, job placement firm Challenger, Gray & Christmas reported that planned layoffs soared in June to 32,517, a 57% jump from a month ago and the highest total since February 2021.
Discover more from News Facts Network
Subscribe to get the latest posts sent to your email.
