A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits unexpectedly fell in the week ended June 21st.
The Labor Department said initial jobless claims dipped to 236,000, a decrease of 10,000 from the previous week’s revised level of 246,000.
Economists had expected jobless claims to come in unchanged compared to the 245,000 originally reported for the previous week.
The report said the less volatile four-week moving average also edged down to 245,000, a decrease of 750 from the previous week’s revised average of 245,750.
New orders for U.S. manufactured durable goods spiked by much more than expected in the month of May, according to a report released by the Commerce Department on Thursday.
The report said durable goods orders soared by 16.4 percent in May after tumbling by a revised 6.6 percent in April.
Economists had expected durable goods orders to surge by 8.5 percent compared to the 6.3 percent slump that had been reported for the previous month.
Excluding a substantial increase in orders for transportation equipment, durable orders climbed by 0.5 percent in May after coming in unchanged in April. Ex-transportation orders were expected to come in flat.
Meanwhile, revised data released by the Commerce Department on Thursday showed the U.S. economy by more than previously estimated in the first quarter of 2025.
The Commerce Department said real gross domestic product fell by 0.5 percent in the first quarter compared to the previously reported 0.2 percent dip. Economists had expected the decrease by GDP to be unrevised.
The bigger than previously estimated decline primarily reflecting downward revisions to consumer spending and exports that were partly offset by a downward revision to imports.
First-Time U.S. Unemployment Benefit Claims Down Unexpectedly
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