Financial News: U.S. Jobless Claims Pull Back Off Eight-Month High

U.S. Jobless Claims Pull Back Off Eight-Month High

06/18/2025 - 10:11:00 (RTTNews)

(RTTNews) - First-time claims for U.S. unemployment benefits edged modestly lower in the week ended June 14th, according to a report released by the Labor Department on Wednesday.

The report said initial jobless claims dipped to 245,000, a decrease of 5,000 from the previous week's revised level of 250,000.

Economists had expected jobless claims to slip to 245,000 from the 248,000 originally reported for the previous week.

The upwardly revised figure for the previous week marked the highest level for jobless claims since they hit 259,000 in the week ended October 5, 2024.

"Despite the slight decline in initial jobless claims in the week ending June 14, both initial and continuing unemployment claims are trending higher, consistent with a gradual softening in labor market conditions," said Michael Pearce, Deputy Chief US Economist at Oxford Economics.

He added, "Even so, with inflation risks looming, we do not think the economy is weakening by enough to force the Federal Reserve into rate cuts in the coming months."

Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 245,500, an increase of 4,750 from the previous week's revised average of 240,750.

With the uptick, the four-week moving average reached its highest level since hitting 246,000 in the week ended August 19, 2023.

The Labor Department also said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, edged down by 6,000 to 1.945 million in the week ended June 7th.

The four-week moving average of continuing claims still rose by 13,000 to 1,926,250, reaching the highest level since November 2021.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Treasury Reveals Details Of Two-Year, Five-Year & Seven-Year Note Auctions (02 hr(s), 28 min(s), 20 sec(s) ago)
(RTTNews) - The Treasury Department on Wednesday announced the details of this month's auction ...Full Story»

U.S. Crude Oil Inventories Plunge Much More Than Expected (03 hr(s), 0 min(s),20 sec(s) ago)
(RTTNews) - A report released by the Energy Information Administration on Wednesday showed a steep ...Full Story»

U.S. Housing Starts Pull Back Sharply In May (03 hr(s), 26 min(s), 20 sec(s) ago)
(RTTNews) - The Commerce Department released a report on Wednesday showing a steep drop by new res ...Full Story»

U.S. Jobless Claims Pull Back Off Eight-Month High (03 hr(s), 29 min(s), 20 sec(s) ago)
(RTTNews) - First-time claims for U.S. unemployment benefits edged modestly lower in the week ende ...Full Story»

Malta HICP Inflation Rises To 14-Month High (03 hr(s), 47 min(s), 20 sec(s) ago)
(RTTNews) - Malta's EU measure of inflation accelerated slightly in May to the highest level i ...Full Story»

UK Inflation Slows Slightly In May (04 hr(s), 06 min(s), 20 sec(s) ago)
(RTTNews) - UK consumer price inflation softened in May as the slowdown in transportation costs wa ...Full Story»

Cyprus HICP Inflation Eases To 0.4%, Lowest In Over 4 Years (04 hr(s), 08 min(s), 20 sec(s) ago)
(RTTNews) - Cyprus's EU measure of consumer price inflation eased further in May to the lowest ...Full Story»

Bank Indonesia Holds Interest Rate Steady At 5.5% As Expected; Hints At Reduction (04 hr(s), 44 min(s), 20 sec(s) ago)
(RTTNews) - Indonesia's central bank left its benchmark interest rate unchanged on Wednesday a ...Full Story»