US jobless claims drop

The US Department of Labor has released data on weekly jobless claims.

Consequently, the number of people applying for unemployment benefits for the first time in the country decreased by 26,000 in the week ending June 24 compared to the previous week and fell to 239,000.

Claims for jobless benefits, which were below market expectations, were expected to be made at the 266,000 level in this period.

The data from the previous week for applications for unemployment benefits was revised from 264,000 to 265,000.

1 MILLION TO 742 THOUSAND

Jobless claims had hit the highest level since October 2021 the week before.

As of last week, 4-week average jobless claims claims increased by 1,500 people compared to the week before to 257,500, the highest level since November 2021.

Ongoing jobless claims, on the other hand, decreased by 19,000 in the week ending June 17 to 1,742,000. (AA)