The number of Americans filing new applications for unemployment benefits fell last week, but stayed at levels consistent with a further loss of labor market momentum in June. Initial claims for state unemployment benefits dropped 5,

Applications for US unemployment benefits ticked down last week, stabilizing near the highest levels in eight months.

The US unemployment rate held at 4.2 percent in May and has remained in a narrow range of 4.0 percent to 4.2 percent since May 2024. The number of unemployed people, at 7.2 million, changed little over the month.