US weekly jobless claims drop to 226,000, near historic low

The number of Americans filing new claims for unemployment benefits fell slightly last week, remaining near historically low levels and pointing to ongoing stability in the labor market despite signs of gradual moderation. The Labor Department reported Thursday that initial jobless claims for the week ending June 13 dropped by 4,000 to a seasonally adjusted 226,000, slightly above the 225,000 forecast by economists.

The data suggests employers remain reluctant to cut staff, with weekly claims continuing to fluctuate within a range typical for the past several years. However, the four-week moving average, which smooths out weekly volatility, edged higher to 223,500, and claims have been trending at the upper end of their 2024 range. Economists noted seasonal distortions related to the end of the school year, particularly in states like Oregon and Minnesota that allow non-teaching staff to file for benefits during summer holidays, likely contributed to recent increases.

The labor market has shown renewed momentum in recent months after a slowdown in 2025. Employers added 172,000 jobs in May, marking three consecutive months of solid gains. The unemployment rate has held steady at...