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US filings for unemployment benefits fall to 226,000 as layoffs remain low
ABC News - Breaking News, Latest News and Videos • • business
Key Points:
- U.S. jobless aid applications fell slightly by 4,000 to 226,000 in the week ending June 13, remaining within a historically low range and close to analyst forecasts.
- Despite concerns over the Middle East conflict, hiring has improved recently with 172,000 new jobs added in May and an average of 188,000 monthly gains since February, marking the best hiring pace since early 2024.
- The unemployment rate remains low at 4.3%, while job openings increased to 7.6 million in April, the highest since May 2024.
- Rising gas prices from the Strait of Hormuz closure pushed U.S. inflation to 4.2% in May, but a recent deal to reopen the strait may ease energy costs and inflationary pressures.
- The Federal Reserve held interest rates steady amid ongoing inflation above its 2% target, with some policymakers open to future hikes that could slow hiring, while uncertainty from AI developments and recent corporate layoffs add complexity to the labor market outlook.
