Unemployment Claims Dip to 245K, Remaining Historically Low
The number of Americans filing new applications for unemployment benefits fell last week, remaining at a historically low level.
Initial claims for state unemployment benefits dropped 5,000 to a seasonally adjusted 245,000 for the week ended June 14, the Labor Department said Wednesday. This was in line with the 245,000 claims economists polled by Reuters had forecast.
The report was released a day early because of the Juneteenth National Independence Day holiday Thursday.
Claims are in the upper end of their range for this year and could remain there, with non-teaching staff in some states eligible to file for unemployment benefits during the summer school holidays. The unemployment claims stayed at levels consistent with a further loss of labor market momentum in June.