Jobless Claims Tick Higher Amid Ongoing Labor Friction

Jobless Claims Tick Higher Amid Ongoing Labor Friction

373,000 Americans filed for unemployment benefits last week, more than anticipated. The prior week's level, a pandemic-era low, was revised higher. The market expected 350,000 on the headline initial claims print, so the latest "real-time" read on the labor market counted as a disappointment at the margins. The four-week moving average fell slightly, to 394,500 (figure below). Continuing claims were 3.339 million in the week to June 26. That was a touch lower than estimates. As a quick rem
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