The number of Americans filing for unemployment benefits rises to 225k, the highest since February.

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Deep Tide TechFlow News, June 4 — The number of Americans filing for initial unemployment benefits for the week ending May 30 was 225k, higher than the expected 213k and the revised previous value of 212k, marking the highest level since the first week of February. The four-week moving average was 214.75k, up from 208.25k last week.

The continuing claims for unemployment benefits were 225k, slightly below the expected 213k. The increase in initial claims indicates a softening in the labor market, but it remains relatively low and stable. Continuing claims slightly declined.

It is important to note that the continuing claims data has a one-week delay, so next week’s data will correspond with this week’s initial unemployment claims. U.S. stock futures showed mixed movements before the market opened, with Dow futures up 1%, S&P 500 futures down 0.22%, and Nasdaq futures down over 1%. U.S. Treasury yields declined, with the 2-year yield at 4.039%, down 4.5 basis points; the 10-year yield at 4.455%, down 3.8 basis points; and the 30-year yield at 4.960%, down 3.0 basis points. (Jin10)

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