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 were revised to 3.696 million for the week ending May 28 from 3.676 million.
Economists expected 420,000 initial claims and 3.650 million continuing claims for the week, according to the median estimate from Thomson Reuters.
The four-week moving average for initial claims, a less volatile figure, was unchanged from last week at 424,750. The four-week average has declined from a 2011 high of 440,250 set in the week of May 14.
The four-week average for continuing claims was 3.709 million down from 3.724 million.
Initial claims data for Pennsylvania were estimated, a Labor Department official said.
