"We've seen some disappointing employment reports in May. The labor market is just kind of mediocre right now, not gaining much traction"
- Bricklin Dwyer, an economist at BNP Paribas
The number of Americans claiming for unemployment benefits rose to 386,000 in the week ended June 9 from 377,000 the week before, said the Department of Labor on Thursday.
"This is a bit of a notch-shift higher with jobless claims," said Bricklin Dwyer, an economist at BNP Paribas in New York. "We've seen some disappointing employment reports in May. The labor market is just kind of mediocre right now, not gaining much traction."
Also Tuesday, a Labor Department report showed core prices, excluding volatile fuel and food, rose 0.2 per cent.
"With inflation seemingly in check, the Fed appears well-positioned to revisit discussions of additional policy action [at its meeting] next week," said Jim Bair, chief investment strategist for Plante Moran Financial Advisers, an independent advisory firm.
"The increasingly apparent slowdown in the already weak expansion should make these conversations more approachable."
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