Jobless Claims Fall To Lowest Level in 4 Months
June 11 (Bloomberg) -- Fewer Americans filed claims for unemployment benefits last week, indicating the deepest job cuts may be subsiding even as companies hold off on hiring.
Initial jobless claims fell by 24,000 to 601,000 in the week ended June 6, fewer than forecast and the lowest level since January, from a revised 625,000 the prior week, Labor Department figures showed today in Washington. The four-week moving average of initial claims, a less volatile measure, fell to 621,750 from 632,250 (see chart above).
MP: The 4-week moving average of 621,750 is the lowest level since February 14 (see red line above), almost four months ago, and the moving average has dropped in 7 out of the last 9 weeks.