The number of people who applied for U.S. unemployment benefits fell slightly last week and remained near a post-recession low, indicating that the nation’s low pace of layoffs and an upturn in hiring are likely to continue.
Initial jobless claims fell by 2,000 to a seasonally adjusted 312,000 in the seven days ended June 21, the U.S. Labor Department said Thursday. Economists had expected claims to total 310,000.
The average of new claims over the past month edged up by 2,000 to 314,250. The monthly figure smooths out the jumpiness in the weekly report and offers a better look at underlying trends in a U.S. labour market that has been steadily improving.
The economy has added an average of 214,000 jobs a month through the first five months of the year, one of the best stretches of hiring since the end of the Great Recession in mid-2009. And economists predict the U.S. likely added 220,000 in June, with the government’s official tally being released on July 3.
Meanwhile, continuing claims increased by 12,000 to a seasonally-adjusted 2.57 million in the week ended June 14, the department said. Continuing claims reflect the number of people already receiving benefits and are reported with a one-week delay.
Initial claims from two weeks ago were revised up to 314,000 from 312,000.
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