Initial unemployment insurance claims slightly decrease but continued claims rise, labor market resilience vs rate hike bets, macro game continues.

CryptoWorld News, last week, the number of Americans filing for unemployment benefits decreased, indicating that the labor market remains in a "low layoffs" state. The U.S. Department of Labor released data on Thursday showing that for the week ending June 13, initial unemployment claims decreased by 4,000 to 226k, with market expectations at 225k. However, the continued claims for unemployment benefits rose to 1.81 million in the previous week. These data suggest that despite the energy price shocks triggered by the Iran conflict, the U.S. labor market remains resilient. The stronger-than-expected employment report for May further supports this view, showing that U.S. employers added 172k jobs. The related data eased market concerns about a significant slowdown in hiring activity and prompted investors to further bet on the Federal Reserve raising interest rates.