Initial Jobless Claims Drop 1.9%

Initial jobless claims fell 1.9% to 312,000 for the week ending June 14, according to a Labor Department report released Thursday.

After increasing a revised 1.6% the previous week, this newest report reversed course, squeaking in just below analysts' expectations of 313,000 claims. 


Source: Author, data from Labor Department 

From a more long-term perspective, a 1.2% decline in the four-week moving average to 311,750 initial claims provides further evidence of a steadily improving labor market. This is the fifth report in six weeks in which the four-week moving average has fallen. Both the latest week's claims and the four-week average fall significantly below 400,000, a cutoff point that economists consider a sign of an improving labor market.

In a rare occurrence, not a single state recorded a decrease of more than 1,000 initial claims for the week ending June 7 (most recent available data). For the same period, a sizable 13 states registered increases of more than 1,000 initial claims. California took the claims-increase cake, citing services layoffs as the main reason for its 9,940-initial-claim increase. Florida snagged second, with agriculture, construction, and manufacturing layoffs contributing to its 4,050-claim rise. 

Discover a top stock pick for 2014
Every year, The Motley Fool's chief investment officer hand-picks 1 stock with outstanding potential. Just click here to download your free copy of "The Motley Fool's Top Stock for 2014" today.

The article Initial Jobless Claims Drop 1.9% originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2014 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

What is Short Selling?

Make a profit when stocks prices fall.

View Course »

Managing your Portfolio

Keeping your portfolio and financial life fit!

View Course »

Add a Comment

*0 / 3000 Character Maximum