The data from the Labor Department revealed on Thursday the number of applications for unemployment decrease less than anticipated last week.

According to the report, the initial claims for unemployment benefits fell by 7,000 to 411,000 for the week ended June 19.

Economists had expected 380,000 new claims last week.

Claims for the prior week were revised upwardly to 418,000 from the initial estimate of 412,000.

Meanwhile, the four-week moving average of jobless claims increased to 397,750 from an upwardly unrevised 396,250 in the previous week.

Continuing claims dropped to 3,390,000 from an upwardly revised 3,534,000 in the previous week. This was the lowest reading since March 2020.