US Continuing Jobless Claims Climb 24,000 to 1.81 Million as Unemployment Spells Lengthen
Updated
Updated · The Economic Times · Jun 18
US Continuing Jobless Claims Climb 24,000 to 1.81 Million as Unemployment Spells Lengthen
3 articles · Updated · The Economic Times · Jun 18
Summary
1.81 million Americans were receiving unemployment benefits after an initial week in the period ended June 6, up 24,000 and signaling weaker rehiring for people already out of work.
11.6 weeks was the median duration of unemployment in May, the longest since November 2021, reinforcing evidence that many job seekers are staying unemployed longer.
172,000 nonfarm jobs were added in May, and the unemployment rate held at 4.3% for a third straight month as low layoffs kept the broader labor market relatively stable.
190,000 to 230,000 has been this year's range for weekly claims, though summer filings by non-teaching school staff can lift totals and seasonal adjustments do not always capture that pattern.
3.50%-3.75% is the Fed's current rate range, but policymakers now expect rate increases this year as inflation worries grow even while hiring is constrained by tariff uncertainty and the Middle East conflict.