WASHINGTON – Initial jobless claims decreased 19,000 to 457,000 for the week ending June 19, to a level lower than economists' estimates and hitting the lowest level since the first week of May, the Labor Department reported today.
Continuing claims fell to 4.548 million for the week ending June 12.
Economists expected 464,000 initial jobless claims and 4.560 million continuing claims, according to the median estimate from Thomson Reuters.
Initial claims for the week ending June 12 were revised higher to 476,000 from 472,000 reported last week. The continuing claims figure for June 5 was revised higher to 4.593 million from 4.571 million.
The four-week moving average of initial claims, a less volatile figure, decreased to 462,750, the first drop in six weeks. The average is "continuing to take some volatility out of the weekly numbers," an official with the Labor Department said.
The four-week average for continuing claims fell to 4.586 million.
Hawaii's claims data for last week was estimated by the Labor Department. Nine states reported an increase of more than 1,000 initial claims for the week ending June 12. States said the increase in claims was partly due to the return to a five day workweek following the Memorial Day holiday, which fell in the week ending June 5. No states reported a decrease of more than 1,000 for the June 6 period.
