US jobless claims drop again
Print Edition
US claims for unemployment fell for the fourth week in a row last week, extending an unprecedented streak of low levels, the Labor Department said yesterday.
The continued scarcity of layoffs suggested June was likely to be another strong hiring month as the data were collected during the survey week for the department's more closely watched monthly US employment report.
For the week ending June 16, the number of new claims for jobless benefits fell by 3,000 to 218,000, marking the 21st week below 250,000.
Claims have now held below 300,000 for over three years, the longest such stretch ever recorded. The less volatile four-week moving average fell a steeper 4,000 to 221,000 claims.
Though they can see big swings from week to week, jobless claims can be used as a barometer of the health of labor markets and the prevalence of layoffs.
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