US initial jobless claims slip lower, secondary claims down again
By Alexander Bueso
Date: Thursday 24 Jun 2021
(Sharecast News) - US jobless claims continued to slip lower during the latest week especially those not being filed for the first time, in a potentially positive signal for the next monthly non-farm payrolls report.
According to the Department of Labor, initial unemployment claims for the week ending on 19 June decreased by 7,000 to 411,000.
Economists had forecast a larger drop to 380,000.
Nevertheless, secondary unemployment claims, which correlate more closely with hiring, as opposed to firings, fell by 144,000 to 3.39m.
The four-week moving average for initial claims, which aims to smooth out the fluctuations in the data from one week to the next, increased by 1,500 to 397,750.
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