US initial jobless claims drop to 220,000

(Sharecast News) - Americans lined up for unemployment benefits at a decelerated pace in the week ended 27 June, according to the Labor Department, with initial jobless claims dropping by 1,000 to 220,000. Continuing claims, on the other hand, rose by 2,000 to 1.81m, while the four week moving average, which aims to strip out week-to-week volatility, decreased by 2,500 to 222,000.

The advance seasonally adjusted insured unemployment rate was 1.2% for the week ended 20 June, unchanged from the previous week's unrevised rate.







Reporting by Iain Gilbert at Sharecast.com