For the first time since January, new jobless claims hit an average stride that topped pre-pandemic levels. That could have implications for office real estate.
As multiple outlets noted, initial jobless claims, which are often seen as an indicator of layoffs and firings, were up to 229,000 for the week ending June 4, a jump of 27,000 from the previous week's revised levels of 202,000.
The four-week moving average, a statistical technique to smooth data and better see trends, hit 215,000, up 8,000 from the previous week.
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