US jobless claims were unchanged at 248k last week, above expectations of a slight decline to 240k.

• The non-seasonally adjusted claims total was 35.8k higher at 244.8k.
• Continued claims increased 54k to 1.956 million, above expectations of 1.910 million and the highest since mid-November 2024.
• The insured unemployment rate ticked back up 0.1 ppts to 1.3%.
• Federal employee jobless claims (UCFE) increased 23 to 561, above 400 a year ago.

• Last week, Kentucky reported significant layoffs in manufacturing, and Minnesota reported an uptick in layoffs in the educational services industry.