US initial jobless claims drop by 12,000

(Sharecast News) - Americans lined up for unemployment at a decelerated rate in the week ended 20 June, according to the Department of Labor, with initial jobless claims dropping by 12,000 from the previous week's upwardly revised print to 215,000. The four-week moving average, which aims to strip out week-to-week volatility, came to 224,250, an increase of 750 from the previous week's revised average, while continuing claims increased by 21,000 to 1.82m.

Also of note, the advance seasonally adjusted insured unemployment rate came to 1.2% for the week ended 13 June, unchanged from the previous week's unrevised rate.









Reporting by Iain Gilbert at Sharecast.com