WASHINGTON: New US claims for unemployment insurance benefits fell last week, continuing to point to a downward trend in job losses, official data released yesterday showed.
The Labour Department said initial jobless claims fell by 6,000 to 312,000 in the week ending June 14, following three straight weeks of gains. The previous week’s level was revised up 318,000 from 317,000. The number of new claims last week came in slightly below the consensus estimate of 313,000.
First-time claims, a sign of the pace of layoffs, have been declining over the past year amid job growth that has picked up in recent months. The four-week moving average, which smoothes weekly volatility, was 311,750, compared with a revised 315,500 the prior week. AFP
