Labor Market Remains Significantly Challenged; Jobless Claims (1.508 Million) Above Consensus Estimate Fuels Relief Demand
Labor market indicators released this morning show significant challenges remain. They provided fuel to lawmakers who may be considering additional relief and stimulus measures.
Jobless claims came in at 1.508 million for the week ending June 13, above the consensus expectation of 1.290 million and only just below last week’s 1.542 million.
Continuing claims of 20.54 million were also above the consensus expectation of 19.85 million for the week ending June 6.
Overall, this labor market data is still very negative.