The US unemployment rate held at 4.2 percent in May and has remained in a narrow range of 4.0 percent to 4.2 percent since May 2024. The number of unemployed people, at 7.2 million, changed little over the month.

Initial filings for unemployment benefits in California dropped the week of June 8 compared with the week prior, the U.S. Department of Labor said Thursday. New jobless claims, a proxy for layoffs, fell to 47,673 in the week ending June 13, down from 49,126 the week before, the Labor Department said.

In the week ending June 7th, initial jobless claims were at a seasonally adjusted level of 248,000, remaining at their highest level in eight months.