WASHINGTON — Initial jobless claims fell to 456,000 for the week ending June 5, the third straight decrease, the Labor Department reported yesterday.
Continuing claims dipped to 4.462 million for the week ending May 29.
Both job-loss numbers exceeded expectations. The median estimates in a Thomson Reuters survey of economists called for 448,000 initial claims for unemployment benefits and 4.640 million continuing claims.
Initial claims for the week ending May 29 were revised higher to 459,000 from the 453,000 figure originally reported last week. Continuing claims for the week ending May 22 were revised upward to 4.717 million from 4.666 million.
The four-week moving average of initial claims, a less volatile figure, rose to 463,000 to post its fifth consecutive weekly gain. The increase was driven by the lingering impact of the 474,000 first-time claims recorded the week ending May 14 — the highest level of the past two months. The continuing claims four-week average decreased to 4.618 million for the week ending May 29, from 4.667 million the previous week.