Unemployment claims in America fell less than expected

The US Department of Labor revealed that unemployment claims fell by 5,000 to 238,000 in the week ending June 15, compared to 243,000 in the previous week. While analysts’ expectations indicated that it would record 235 thousand.

As for unemployment aid applications over the four-week period ending in the same period – which is the most accurate standard for unemployment aid applications – they recorded levels of 232.7 thousand.

The May jobs report revealed earlier this month that the economy added 272,000 jobs, while the unemployment rate rose to 4%.

The labor market is still strong in America, which prompts the Federal Reserve to postpone its decision to start cutting interest rates, unlike the European Central Bank, which started cutting rates earlier this month.