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Jobless claims reverse course back down

Fall by 6,000 filings

Good news for June employment: jobless claims are down by 6,000 filings, falling to 312,000 initial claims for the week ended June 14.

This is down from last week’s reported filings, which were revised up by 1,000 filings to 318,000, the U.S. Department of Labor said.  

The 4-week moving average came in at 311,750, down 3,750 filings from the previous week’s revised average, and down 11,000 filings from mid-month May.    

“Improvement remains very convincing for continuing claims which are reported with a 1-week lag. Continuing claims for the June 7 week fell 54,000 to a new recovery low of 2.561 million,” analysts with Econoday said.  

“The 4-week average, down 21,000 to 2.601 million, is also at a recovery low as is the unemployment rate for insured workers, holding at 2%,” Econoday added. 

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