US initial jobless claims stable at 248,000

ISTANBUL

Initial jobless claims in the US hit 248,000 for the week ending June 7, stable from the previous week's revised figure and higher than expected, according to Labor Department data released Thursday.

The previous week's number was revised up 1,000 to 248,000.

The four-week moving average was 240,250, up 5,000 from the previous week's revised average, and reached its highest level since August 2023.

The seasonally adjusted insured unemployment rate was 1.3% for the week ending May 31, up 0.1 percentage points from the previous week.

The seasonally adjusted insured unemployment number was 1.96 million, revised up 54,000 from the previous week.