US Jobless Claims: Decline for the tenth week in a row
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US Jobless Claims: Decline for the tenth week in a row
With businesses reopening following the coronavirus lockdown, the Labor Department released a report on Thursday showing a continued decrease in first-time claims for U.S. unemployment benefits in the week ended June 6th. The report said initial jobless claims tumbled to 1.542 million, a decrease of 355,000 from the previous week's revised level of 1.897 million.
The Labor Department said the less volatile four-week moving average also dropped to 2,002,000, a decrease of 286,250 from the previous week's revised average of 2,288,250. Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also slid by 339,000 to 20.929 million in the week ended May 30th.
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