First-time claims for U.S. unemployment benefits fell by much more than expected in the week ended July 6th, the Labor Department revealed in a report released on Thursday.
The report said initial jobless claims slid to 222,000, a decrease of 17,000 from the previous week's revised level of 239,000.
The Labor Department said the less volatile four-week moving average also dipped to 233,500, a decrease of 5,250 from the previous week's revised average of 238,750.
Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, also edged down by 4,000 to 1.852 million in the week ended June 29th.
Meanwhile, the four-week moving average of continuing claims climbed by 9,750 to 1,840,250, reaching its highest level since early December 2021.
...