Unemployment Insurance Weekly Claims Initial claims were 229,000 for the week ending 6/1 (+8,000). Insured unemployment was 1,792,000 for the week ending 5/25 (+2,000). www.dol.gov/ui/data.pdf pic.twitter.com/Bu9CBpWS5F

🇺🇸Initial claims for #unemployment rose slightly in week-ended June 1. Claims remain, but on a slight uptrend: 📈Claims: 229k (+8k) 📈4-wk average: 222k (-1k) ⚠️While the labor market is cooling, we see no early signs of a retrenchment. pic.twitter.com/4Fe4rDOGaH

🇺🇸April #JOLTS: Slowing labor demand via reduced job openings. 🔻Job openings: 8.06mn (-296k): post-Covid low⚠️ ⬆️Hiring: 5.64mn (+23k): near post-Covid low & 2017 levels ⬆️Quits: 3.51mn (+98k): near post-Covid low & 2018 levels 🔻Layoff: 1.44mn (-86k) pic.twitter.com/pt5RrCaGVX

Job openings fell to their lowest level in more than three years in April, but quits rose and layoffs fell. (Hires were flat.) So net net probably the same story of a strong albeit gradually cooling labor market. #JOLTS Data: www.bls.gov/news.release/jolts.nr0.htm