Both initial and continuing unemployment claims rose last week, initial claims from 225,000 to 229,000, (highest since February) and continuing claims rose from 1.780 million to 1.795 million claims.
Not awful, but not good either.
US initial jobless claims unexpectedly rose to the highest since February, potentially reflecting the usual volatility around school summer breaks and holidays.
Initial claims increased by 4,000 to 229,000 in the week ended June 6, according to Labor Department data released Thursday. The median forecast in a Bloomberg survey of economists called for 220,000 applications.
Continuing claims, a proxy for the number of people receiving benefits, also rose, to 1.8 million in the previous week.
This is not enough for the Federal Reserve not to raise interest rates next week.
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