US / Weekly Jobless Claims fall. Better check tomorrow what is going on

SEASONALLY ADJUSTED DATA

In the week ending June 1, the advance figure for seasonally adjusted initial claims was 346,000, a decrease of 11,000 from the previous week’s revised figure of 357,000. The 4-week moving average was 352,500, an increase of 4,500 from the previous week’s revised average of 348,000.

Chosen excerpts by Job Market Monitor

via ETA Press Release: Unemployment Insurance Weekly Claims Report.

Jobless claims fall, labor market gradually improving

The number of Americans filing new claims for unemployment benefits fell last week, pointing to moderate job growth despite slowing economic activity.

Initial claims for state unemployment benefits declined 11,000 to a seasonally adjusted 346,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 3,000 more applications received than previously reported.

Economists polled by Reuters had expected first-time applications to fall to 345,000 last week.

A Labor Department analyst said no states had been estimated and there was nothing unusual in the state-level data. Last week’s data included the Memorial Day holiday and claims typically fall around this time of the year.

The four-week moving average for new claims, which irons out week-to-week volatility, rose 4,500 to 352,500.

Although claims have been volatile in recent weeks, there is little in the numbers to suggest a shift in the moderate pace of job gains, even though the broader economy is struggling under the weight of higher taxes and deep government spending cuts.

Chosen excerpts by Job Market Monitor

via Jobless claims fall, labor market gradually improving | Reuters.