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.

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