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Unemployment Insurance Weekly Claims
In the week ending June 16, the advance figure for seasonally adjusted initial claims was 218,000, a decrease of 3,000 from the previous week's revised level. The previous week's level was revised up by 3,000 from 218,000 to 221,000. The 4-week moving average was 221,000, a decrease of 4,000 from the previous week's revised average. The previous week's average was revised up by 750 from 224,250 to 225,000. The advance seasonally adjusted insured unemployment rate was 1.2 percent for the week ending June 9, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured ... (full story)
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U.S. labor market tightening; mid-Atlantic manufacturing cools
The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a further tightening in labor market conditions. Other data on Thursday showed a moderation in factory activity in the mid-Atlantic region in June amid a decline in new orders. Firms, however, continued to report overall increases in employment this month. The robust labor market, which is underpinning economic growth, likely will pave the way for the Federal Reserve to raise interest rates two more times this year. The U.S. central bank last week increased borrowing costs for a second time this year and forecast two ... (full story)