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Financial News: U.S. Weekly Jobless Claims Show Modest Decrease

U.S. Weekly Jobless Claims Show Modest Decrease

06/21/2018 - 09:05:00 (RTTNews)

(RTTNews) - First-time claims for U.S. unemployment benefits edged lower in the week ended June 16th, according to a report released by the Labor Department on Thursday.

The report said initial jobless claims dipped to 218,000, a decrease of 3,000 from the previous week's revised level of 221,000.

Economists had expected jobless claims to inch up to 220,000 from the 218,000 originally reported for the previous week.

The Labor Department said the less volatile four-week moving average also slipped to 221,000, a decrease of 4,000 from the previous week's revised average of 225,000.

Meanwhile, the report said continuing claims, a reading on the number of people receiving ongoing unemployment assistance, rose by 22,000 to 1.723 million in the week ended June 9th.

The four-week moving average of continuing claims still fell to a more than 44-year low of 1,722,500, a decrease of 4,750 from the previous week's revised average of 1,727,250.

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