- U.S. weekly jobless claims total 376,000
Market news
U.S. weekly jobless claims total 376,000
The
data from the Labor Department revealed on Thursday the number of applications
for unemployment decreased less than anticipated last week, but again hit a
fresh pandemic-era low.
According
to the report, the initial claims for unemployment benefits decreased by 9,000
to 376,000 for the week ended June 5. This was the lowest reading since March
2020, when the COVID-19 pandemic struck.
Economists
had expected 370,000 new claims last week.
Claims for the prior week were left unrevised at 385,000.
Meanwhile,
the four-week moving average of jobless claims fell to 402,500 from an unrevised 428,000 in the previous week.
Continuing
claims dropped to 3,499,000 from a downwardly revised 3,757,000 in the previous
week.
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