Jobless claims increased by 4,000 filings to 317,000 initial claims for the week ending June 7, according to the latest jobs report from the U.S. Department of Labor.

Last week’s level was revised higher by 1,000 filings, growing to 312,000 from 313,000.

Meanwhile the 4-week moving average hit 315,250, a jump of 4,750 from the previous week’s revised average of 310,500.

Analysts with Econoday noted that jobless claims have remained steady the past two weeks, but on net, still look favorable. 

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