The data from
the Labor Department revealed on Thursday the number of applications for
unemployment benefits went up last week, pointing to underlying market strength
despite a steep slowdown in job growth in May.
According to
the report, the initial claims for unemployment benefits fell 6,000 to a
seasonally adjusted 216,000 for the week ended June 15.
Economists had
expected 220,000 new claims last week.
Claims for the
prior week were remained unchanged at 222,000.
Meanwhile, the
four-week moving average of claims increased 1,000 to 218,750 last week.