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Not everyone is benefiting from record-low unemployment and a decade-long bull market

The economy is doing great, according to most estimates.

Jobless claims edged up to 5-week high of 222,000 for the seven days ending June 8, as California, Pennsylvania layoffs rise, the Labor Department said Thursday. That was not enough to put a dent in the strong labor market or break the record for the longest expansion on record. Mortgage rates have hit their lowest level this year. Consumer sentiment hit 100 at the end of May, up from 97.2 in April, helped in part by a decade-long bull market. But not everyone is A-OK.

“Many adults are financially vulnerable,” according to a recent report from the Board of Governors of the Federal Reserve System.

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