?States reported that 235,000 workers filed for new unemployment benefits during the week ending July 2, an increase of 4,000 from the previous week’s revised level. The number of workers continuing to claim unemployment benefits—1.3 million—is well below the pre-pandemic average of 1.7 million.
Jobless claims have remained near pre-pandemic levels since early this year, as employers have generally avoided laying off workers due to historically high demand. But claims have slowly climbed since hitting a 53-year low this spring and it is being reported that some layoffs are starting to occur in a variety of sectors due to slowing business growth and rising labor costs.
The U.S. Department of Labor’s employment report for June is expected Friday. Analysts expect the economy added 268,000 jobs last month, down from the 390,000 reported for May.
