Unemployment Claims Fall
The number of initial applications for unemployment benefits filed by American workers fell for the first time in over a month; however, the overall level is still higher than past months.
In the week ending June 2, initial unemployment claims dropped by 12,000 to a seasonally adjusted 377,000, reported the Labor Department Thursday.
The four-week moving average for new claims, considered a better measure of labor market trends, increased by 1,750 to 377,750.
The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending May 26, unchanged from the prior week’s unrevised rate.
Slower job growth, along with other disappointing economic data and worries about Europe, has led the Feds to consider new action to stimulate the recovery, reported the Wall Street Journal this week.
Fed officials are set to hold their next policy meeting June 19 and 20.
The unemployment rate increased a tenth of a point to 8.2 percent in May.