Here’s the latest report on weekly unemployment benefits:
Applications for jobless benefits fell by 9,000 for the week ending June 22, bringing the total to 346,000, down from last week’s revised figure of 355,000, the Labor Department announced on Thursday.
The four-week moving average, a “less volatile” figure, fellby 2,750, bringing the total to 345,750, down from the previous average of 348,500.
This is the first decrease in benefit claims in two weeks.
“The advance seasonally adjusted insured unemployment rate was 2.3 percent for the week ending June 15, unchanged from the prior week's unrevised rate,” the report reads.
“The advance number for seasonally adjusted insured unemployment during the week ending June 15 was 2,965,000, a decrease of 1,000 from the preceding week's revised level of 2,966,000. The 4-week moving average was 2,973,250, a decrease of 9,250 from the preceding week's revised average of 2,982,500,” it adds.
The states with the largest increases in initial claims for the week ending June 15 were California (+15,341), Pennsylvania (+4,882), Florida (+4,850), Michigan (+1,114), and Maryland.
Meanwhile, Illinois (-3,401), New York (-2,090), Georgia (-1,893), Missouri (-1,591), and Tennessee (1,542) posted the biggest decreases in initial claims.
Stocks are opening higher:
Follow Becket Adams (@BecketAdams) on Twitter
Featured image Getty Images.