Initial Jobless Claims rose 12,000 in the latest week, with 248,000 people filing for unemployment benefits for the first time. Note that this increase was likely due in part to understated initial claims in the previous week, which had a shortened filing time due to the Juneteenth holiday. Meanwhile, Continuing Claims declined by 13,000, with 1.72 million people still receiving benefits after filing their initial claim. While this metric is well above the low of 1.289 million seen last September, it has been steadily declining since April and is now at its lowest level since February. Based on the job growth numbers from ADP, this decline could be partly attributed to people finding new employment, and partly due to benefits expiring.