After reporting a rebound in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing that initial jobless claims pulled back by much more than expected in the week ended June 18th.
The report said initial jobless claims fell to 259,000, a decrease of 18,000 from the previous week's unrevised level of 277,000. Economists had expected jobless claims to edge down to 270,000.
With the bigger than expected decrease, jobless claims hit their lowest level since dropping to 257,000 in the week ended April 23rd.
For comments and feedback: editorial@rttnews.com