U.S. initial jobless claims rose slightly last week, in a sign that labor market conditions may have begun to deteriorate amid a rally in inflation and after successive interest rate hikes by the Federal Reserve.
In particular, initial claims for jobless benefits rose by 4,000 to a six-month high of 235,000 for the week ended July 2, according to data released today by the US Commerce Department. The average estimate of analysts in a Bloomberg poll put the applications at 230,000.
Ongoing applications, meanwhile, rose by 51,000 to 1.38 million for the week ended June 25, according to government data.
Source: Capital
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