The U.S. Department of Labor reported on the 10th (local time) that the number of new unemployment insurance claims for the week of June 29 to July 5 reached 227,000. This is a decrease of 5,000 from the previous week and below the expert forecast of 235,000 compiled by Dow Jones.
The number of 'continued unemployment insurance' claims for those applying for unemployment insurance for more than two weeks increased by 10,000 from the previous week to 1.965 million for the week of June 22 to 28. This is the highest number since November 2021 (1.977 million) during the COVID-19 pandemic, marking a 3-year and 8-month high.
The increase in continued unemployment insurance claims indicates that more people are struggling to find new jobs immediately after unemployment.
Amid growing concerns that the tariff policy of the Donald Trump administration will increase the unemployment rate, Wall Street's attention is focused on labor market indicators that can gauge real economic trends.