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Jobless claims still floundering

WASHINGTON (6/20/14)--The number of U.S. citizens seeking unemployment insurance continues to rest at a post-recession low, as initial jobless claims fell by 6,000 to 312,000 for the week ending June 14, the Labor Department reported Thursday (MarketWatch June 19).

Averaged over the month to smooth out any spikes, jobless claims slipped by 3,750, also near a post-housing-bust low.

Marisa Di Natale, a Moody's analyst, said that despite some choppiness over the past couple of weeks surrounding the Memorial Day holiday, jobless claims continue their downward path and are about as low as they have been since the recession ended ( June 19).  With the four-week moving average also dropping, this suggests that the pace of job growth, which has been above 200,000 in each of the last four months, held steady or improved slightly in June, Di Natale added.
Continuing claims, or those to receive unemployment benefits for at least a second straight week, fell by a seasonally adjusted 54,000 for the week that ended June 7.

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