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10 Jun, 2021 13:55 10 Jun, 2021 14:24

US initial jobless claims fall for sixth consecutive week

jobless, unemployment, employment, us, usa, america, department of labor

The number of Americans lining up for state unemployment benefits declined for a sixth consecutive week, with initial claims decreasing by 9,000 to 376,000 in the week ended 5 June, according to the Labor Department.

Significantly, continuing claims for ongoing state unemployment dropped 258,000 in the week ended 29 May to 3.5m - the largest decline since mid-March.

The four-week moving average was 402,500, down 25,500 from the previous week's unrevised average of 428,000 to the lowest level on average since 14 March.

Commenting on the latest claims data, Ian Shepherdson at Pantheon Macroeconomics said Thursday's "small" dip for initial claims was "nothing to worry about", coming as it did after a run of bigger drops.

Shepherdson attributed the fall to the "awkward" seasonal adjustments resulting from the Memorial Day weekend, adding that a "substantial" decline was likely the next week.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.