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View All NewsJobless claims drop by 19,000
June 24, 2010
U.S. initial claims for unemployment insurance for the week ended June 19 fell by 19,000, or 4.0%, to 457,000 from the previous week, the U.S. Department of Labor reported today. MarketWatch reported that economists had expected jobless claims to fall to 460,000.
The number of initial claims from the previous week was revised upward to 476,000 from the first report of 472,000.
The four-week moving average of claims for the week ended June 19 fell by 1,500, or 0.3%, to 462,750 from the previous week's revised average of 464,250.
Looking back at the week ended June 12, California reported the largest increase in initial unemployment claims with an increase of 17,572. The state cited a return to a five-day workweek as well as layoffs in the service industry. Pennsylvania was next-highest with an increase of 5,266. Pennsylvania reported layoffs in the transportation and service industries.