U.S. Weekly Jobless Claims Plunge Below Expectations
(MENAFN) The latest data from the U.S. Labor Department shows a slight dip in initial unemployment claims, with filings dropping by 5,000 to 227,000 last week. This figure came in below expectations, which had predicted a rise to 236,000. It also marks a decrease from the prior week's adjusted total of 232,000.
Meanwhile, the four-week moving average stood at 235,500, reflecting a decrease of 5,750 from the previous week's revised figure of 241,250.
In a more positive economic development, the U.S. economy added 147,000 jobs in June, surpassing analysts' projections of 111,000. Additionally, the unemployment rate decreased to 4.1% in June, down from 4.2% in May, defying market expectations.
These figures suggest a resilient job market amid broader economic conditions.
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