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Initial Jobless Claims Fall 16,000 to 414,000

Financial News Network
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June 21, 2011 AT 12:02 AM
Initial jobless claims for the week ended June 11 were 414,000 seasonally adjusted, down 16,000 from the previous week's upwardly revised figure of 430,000.Economists had expected initial jobless claims of 425,000 for the week.The four-week moving average of 424,750 was unchanged from the previous week's number after the revision.The number of people continuing to receive insured unemployment checks fell 21,000 to 3.68 million for the week ending June 4. A year ago that number stood at 4.59 million.The number of people receiving extended benefits in the week ended May 28 fell 115,000 to 3.88 million. That number is down from 5.29 million a year ago.A total of 7.4 million people received some form of state or federal jobless benefit in the week of May 28, down 209,000 from the week before, and down 2.2 million from a year ago.