Jobless claims dip to 226,000 as labor market stays resilient

U.S. initial jobless claims fell to 226,000 for the week ended June 13, but the level remains elevated and continuing claims rose to 1.81 million, signaling a still-sturdy labor market. Payroll growth has picked up in recent months, with May gains around 172,000, and the unemployment rate stable near 4.3%. The Fed kept rates steady but signaled possible rate increases later this year as inflation remains a concern, while seasonal distortions from the school calendar may have affected the claims data.