US initial jobless claims down 5,000 last week

By Mucahithan Avcioglu

ISTANBUL (AA) - The number of Americans filing first-time unemployment claims fell by 5,000 to 245,000 last week, according to Labor Department data released on Wednesday.

The figure came slightly below the market forecasts of 246,000 and was down from the previous week's upwardly revised level of 250,000.

The four-week moving average was 245,500 – an increase of 4,750 from the previous week's upwardly revised level of 240,750.

"This is the highest level for this average since August 19, 2023, when it was 246,000," the Labor Department said.

In May, the US economy added 139,000 jobs, higher than forecasts of 126,000.

The unemployment rate was 4.2% in May, unchanged from April, meeting the forecast.