Filings for unemployment benefits fall to 226,000 last week as layoffs remain historically low

Unemployment-benefit applications fell to 226,000 in the week ending June 13, a modest drop of 4,000, aligning with the 225,000 forecast from FactSet. The unemployment rate remained at 4.3%, and job openings rose to 7.6 million in April, with employers adding 172,000 jobs in May and averaging 188,000 monthly gains in the three months since the Iran conflict began. Inflation remained a concern as May prices rose 4.2%, driven in part by higher energy costs tied to the Hormuz disruption. The labor market has shown resilience with 1.5 million jobs added in 2024, and hiring activity has improved after a weak 2025, while the Fed’s stance remained uncertain under new chair Kevin Warsh. Some large employers have announced cuts in other sectors, but hiring broadly remains strong.