The number of Americans applying for unemployment benefits dipped to 245,000 last week amid uncertainty over President Donald Trump's trade policies.

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.

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.