WASHINGTON (Reuters) – New U.S. claims for unemployment insurance fell more than expected last week, government data showed on Thursday, while the number of people continuing to receive benefits in the final week of June was the lowest in seven months.
Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 454,000 in the week ended July 3, the lowest level since early May, the Labor Department said.
Analysts polled by Reuters had expected claims to fall to 460,000 from the previously reported 472,000, which was revised up to 475,000 in Thursday's report.
The four-week moving average of new jobless claims, seen as a better measure of underlying labor market trends, fell 1,250 to 466,000.