A report released by the Labor Department on Thursday showed a modest decrease in first-time claims for U.S. unemployment benefits in the week ended June 19th.
The Labor Department said initial jobless claims edged down to 411,000, a decrease of 7,000 from the previous week’s revised level of 418,000.
Economists had expected jobless claims to drop to 380,000 from the 412,000 originally reported for the previous week.
Meanwhile, the report said the less volatile four-week moving average crept up to 397,750, an increase of 1,500 from the previous week’s revised average of 396,250.
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