Markets & Finance · Intelligence
—The calm headline. New US unemployment claims stayed low at about 226,000 in mid-June, suggesting employers are not firing in any great numbers.
—The telling number. The count of people still claiming benefits rose by around 24,000, a sign that those out of work are finding it harder to land a new job.
—The frozen middle. The rate at which Americans quit their jobs has been stuck at two per cent for seven straight months — the mark of a market where almost nobody is moving.
—Housing stalls. Home-building fell more than fifteen per cent in May to its lowest level since the early-pandemic shock, as higher mortgage costs bit.
