First-time claims for unemployment benefits ticked up to 271,000 in the week ending June 20, the Labor Department reported Thursday.
Initial jobless claims were up 3,000 from last week’s revised 268,000 seasonally-adjusted number, mostly in line with investors’s expectations.
The four-week moving average for claims fell by over 3,000 to 273,750.
The weekly unemployment insurance numbers continue to be among the most encouraging indicators for the U.S. economy.
Low claims represent falling layoffs, an encouraging sign for the labor market.
The strong jobless claims numbers have raised expectations for the payroll jobs report, which comes out on a monthly basis. May’s report showed the economy adding 207,000 jobs over the past three months, a relatively good showing.
The total number of people receiving unemployment benefits, which are available up to as much as 26 weeks, fell slightly 2.1 million. That number was down from 2.4 million a year ago.
