Initial Claims Drop 16,000 to 414,000
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The number of Americans filing for initial jobless benefits last week fell 16,000 to 414,000, better than the 420,000 economists had been expecting.
The weekly data point Thursday suggests the recent round of dismissals (ie firings) which began in April are finally slowing while, at the same time, hiring has ticked higher.
Last week's reading (for the week ended June 4th) was revised modestly higher from 427,000 to 430,000.
Initial jobless claims have remained stubbornly over the 400,000 level since the end of March. The metric hit a low around 376,000 at the end of February.
Continuing claims for the week ended June 4th came in at 3.675 million, higher than the 3.67 million economists had been looking for and down slightly from an upwardly revised reading of 3.696 million for the previous week.
The weekly data point Thursday suggests the recent round of dismissals (ie firings) which began in April are finally slowing while, at the same time, hiring has ticked higher.
Last week's reading (for the week ended June 4th) was revised modestly higher from 427,000 to 430,000.
Initial jobless claims have remained stubbornly over the 400,000 level since the end of March. The metric hit a low around 376,000 at the end of February.
Continuing claims for the week ended June 4th came in at 3.675 million, higher than the 3.67 million economists had been looking for and down slightly from an upwardly revised reading of 3.696 million for the previous week.
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