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WASHINGTON (Reuters) – The number of Americans claiming unemployment benefits has increased more than expected last week, but the evolution of claims has remained consistent with the tightening of unemployment. labor market.
Economists polled by Reuters had expected claims rising to 220,000 over the past week. There is probably a limited margin of maneuver for claims to show significant declines.
The labor market is considered close or full employment, with the unemployment rate at its lowest level in 18 years (3.8%). The unemployment rate has fallen three tenths of a percentage point this year and is approaching the Federal Reserve's forecast of 3.6% by the end of the year.
The Labor Department said the claims for Maine and Wyoming were estimated last week.
The four-week rolling average of initial claims, seen as a better measure of labor market trends in terms of volatility from one week to the next, has risen by 1,000 to 222,000 last week.
The claims report also indicated that the number of people receiving benefits after a first week of badistance had fallen from 21,000 to 1.71 million during the week ended June 16th. , the lowest level since December 1973.
Data on continuing claims covered the week of the household survey from which the June unemployment rate will be derived. The four-week average of continuous claims declined by 32,000 between the May and June survey periods, suggesting a further decline in the unemployment rate this month.
Report of Lucia Mutikani Edition of Paul Simao
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