Economy: US Jobless claims remain below 300,000 for 68th Week in a Row
Economy: US Jobless claims remain below 300,000 for 68th Week in a Row
Washington - QNA
US jobless claims reported Thursday remained below 300,000 for the 68th consecutive week, the longest period in 43 years.
The Labor Department said today that initial jobless claims, which is a measurement for layoffs, fell by 18,000 to 259,000 in the week ending June 18. The prior week's level was unrevised at 277,000. Analysts had forecast claims would decline to 273,000.
The four-week moving claims, which smooths the weekly volatility, fell by 2,250 to 267,000 last week. A year ago it was 274,250. The positive results came despite a poor nonfarm payrolls report for May, with only 38,000 jobs created in that month. It was the lowest job growth reported in six years.
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