The U.S. Labor Department has released the latest data on jobless claims for the week ending June 14.
Initial jobless claims came in at 245,000, slightly better than market expectations of 246,000. This shows a small decline of 5,000 claims compared to the revised figure of 250,000 for the previous week.
The four-week average of jobless claims, which helps smooth out weekly fluctuations, rose to 245,500 from 240,750 in the previous week. This increase suggests a slight upward trend in unemployment filings.
Continuing jobless claims, which represent the number of people still receiving unemployment benefits, fell by 6,000 to a total of 1,945,000. This number is slightly above the market forecast of 1,940,000 but lower than the previous week’s revised figure of 1,951,000.
In response to the report, U.S. Treasury yields saw minor changes. The yield on the 10-year Treasury note dropped by 2 basis points to 4.371%. The 30-year bond yield fell by 2.4 basis points to 4.869%, while the yield on the 2-year note dipped 1.1 basis points to 3.939%.
The yield curve between the 2-year and 10-year Treasury notes remained positive, last recorded at 42.8 basis points. A positive yield curve is often seen as a signal of economic stability and growth expectations.
This week’s data suggests that the U.S. labor market remains resilient, with only a slight rise in average jobless claims and continued strength in long-term employment indicators.
Be First to Comment