US Jobless Claims Hit Four Month High in May
Initial unemployment claims rose by 13,000 to a seasonally adjusted 225,000 for the week ended May 30, marking the highest level since early February. Economists attributed the increase to holiday volatility and school year transitions, noting that the broader labor market remains stable with low layoff rates. Meanwhile, first quarter worker productivity growth was revised down to a 0.3% annualized rate.
United States weekly jobless claims rose 13,000 to 225,000, hitting a four-month high for the week ended May 30. The figure exceeded Reuters forecasts of 213,000 but remains within the year's 190,000-230,000 range. A stable labor market allows the Federal Reserve to maintain current interest rates to combat persistent inflation.
