U.S. Jobless Claims Lower Than Expected

For the week ending last Saturday, June 4, initial claims for unemployment insurance in the U.S. fell to 330,000, some 21,000 fewer the previous week's revised figure of 351,000, The U.S. Labor Department reported on June 9.

Economists generally expected a decline to 335,000.

Last week's figure is roughly in line with the department's four-week moving average of initial jobless claims. Last week, that average was 331,750, down 2,750 from the previous week's average of 334,500. The four-week moving average is generally considered a better reflection of underlying labor market conditions since it smooths out week-to-week changes.

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