A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits edged down by much less than expected in the week ended July 11th.
The Labor Department said initial jobless claims slipped to 1.300 million, a decrease of 10,000 from the previous week’s revised level 1.310 million.
Economists had expected jobless claims to drop to 1.250 million from the 1.314 million originally reported for the previous week.
Jobless claims fell for the fifteenth consecutive week, although the pace of decline has slowed considerably from April and May.
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