U.S. weekly jobless claims total 412,000, vs 360,000 estimate
Initial jobless unexpectedly rose last week despite an ongoing recovery in the U.S. employment market, the Labor Department reported Thursday.
First-time filings for unemployment insurance for the week ended June 12 totaled 412,000, an improvement from the previous week's 375,000. That was the highest number since May 15.The surprise increase in claims comes following a series of incremental steps toward normalcy in the payrolls picture. A year ago at this time, the nation was seeing close to 1.5 million new claims a week amid continued government-imposed business shutdowns aimed at containing the Covid-19 pandemic.
As vaccinations have progressed and cases, hospitalizations and deaths have fallen dramatically, employment had been continuing to improve.CNBC Pro
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