Data from the US Department of Labor on Thursday showed that the number of Americans filing for jobless benefits decreased for the week ending June 23, Reuters reports. Initial jobless claims fell by 26,000 to 237,000. Analysts in a Reuters poll had forecast a drop to 245,000. The four-week moving average, which smoothes out weekly volatility, decreased by 2,250 to 244,750. This figure is at its lowest level since April 2022. "We are seeing the continuation of a very strong labor market," said Michael Pierangelo, senior US economist at Capital Economics. "This means that the Federal Reserve will likely continue to raise interest rates in the coming months to fight inflation."
