Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

U.S. Weekly Jobless Claims Fall by Less Than Expected

Economic Indicators Jun 23, 2022 09:04AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Scott Kanowsky

Investing.com -- The number of Americans putting in new claims for unemployment benefits fell by less than estimated last week, potentially signaling that the jobs market in the world's biggest economy may be showing some signs of cooling.

Weekly seasonally adjusted initial claims for jobless benefits declined to 229,000, a decrease of 2,000 from the previous week's revised level, according to data from the U.S. Labor Department. Analysts had expected the figure to fall to 227,000.

California, Pennsylvania and Illinois saw the largest increases in jobless claims.

However, the labor market remains tight. At the end of April, there were 11.4 million job openings - or about one for every two unemployed Americans. Labor Department data also showed the 4-week moving average for seasonally adjusted insured unemployment is at its lowest level since 1970.

Thursday's data comes as Federal Reserve Jerome Powell said this week that recent global events have made it "more difficult" to use its monetary policy tools to wrangle in soaring inflation and dampen the robust labor market.

In a testimony on Capitol Hill, Powell warned that while the Fed does not want to cause a recession, it remains a "possibility." The Fed hiked interest rates by 75 basis points last week in a bid to quell price rises, but sparked fears that this sort of aggressive action could lead to a broader economic downturn - a so-called "hard landing."

U.S. Weekly Jobless Claims Fall by Less Than Expected
 

Related Articles

U.S. wholesale inventories gain revised lower in June
U.S. wholesale inventories gain revised lower in June By Reuters - Aug 10, 2022

(Reuters) - U.S. wholesale inventories increased less than initially thought in June as businesses slowed the replenishment of their stocks as they continue to draw down on excess...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (5)
Abc Xyz
Abc Xyz Jun 23, 2022 5:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Half of the CA population eat on welfare anyway
Jack Peterson
Jack Peterson Jun 23, 2022 2:18PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
California, Pennsylvania and Illinois saw the largest increases in jobless claims, there’s a revelation!
dar dar
dar dar Jun 23, 2022 10:19AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
go +
Ferdinando Riboni
Ferdinando Riboni Jun 23, 2022 10:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
go Gay
Dennis Wozny
Dennis Wozny Jun 23, 2022 9:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
LGB
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email