346,000 Initial Jobless Claims

unemployment

Initial jobless claims were down a little bit last week, but still came in higher than expected. Nothing new here.

The number of people who applied for regular state unemployment-insurance benefits fell 9,000 to 346,000 in the week that ended June 22, the U.S. Department of Labor reported.

“The overall tone in claims has remained quite positive over the past several weeks,” Gennadiy Goldberg, U.S. strategist at TD Securities, wrote in a research note.

Economists polled by MarketWatch had expected these initial jobless claims to decrease to a seasonally adjusted 345,000 from an original estimate of 354,000 for the week that ended June 15. On Thursday, the government tweaked its estimate of initial claims for the week that ended June 15 to 355,000. (Read More)