US jobless claims drop to 226,000 as unemployment remains 4.3%
Business
The latest numbers from the US Department of Labor show initial jobless claims fell by 4,000 to 226,000 for the week ending June 13.
This keeps layoffs at a pretty steady and low level, right within the range seen all year.
The unemployment rate is holding firm at 4.3% for the third month in a row.
US continuing claims rise to 1.81 million
According to the Federal Reserve, job gains are matching workforce growth.
The insured unemployment rate remains unchanged at 1.2%. However, continuing claims, which reflect people out of work for longer, rose slightly to 1.81 million from last week's 1.79 million.
Even with summer's usual ups and downs, the labor market looks solid overall, though the Fed is keeping an eye on inflation and hinting interest rates could rise in the future.