WASHINGTON — Initial jobless claims dropped 16,000 to a seasonally adjusted 414,000 for the week ending June 11, the Labor Department reported Thursday.
Continuing claims fell 21,000 to 3.675 million for the week ending June 4.
Initial claims for the week ending June 4 were revised higher to 430,000 from 427,000 reported last week. Continuing claims for the week ending May 28 were revised to 3.696 million from 3.676 million.
Economists had expected 420,000 initial claims and 3.650 million continuing claims for the week, according to the median estimate from Thomson Reuters.