US jobless claims at almost a year’s high

According to the US Department of Labor, the number of jobless claimants increased by 27,000 to 229,000 in the week ended June 4. The median estimate from economists polled by Bloomberg was 206,000.

Despite this increase, claims remain near pre-pandemic levels.

4-week average enrollments up 8,000 to 215,000. Ongoing applications remained at 1.3 million for the week ended May 28.

Nonfarm payrolls data in the country rose 390,000 in May, well above estimates.