Another 1.508 million Americans filed for unemployment benefits in the week ending June 13, exceeding consensus expectations for 1.29 million.
The prior week’s figure was revised higher to 1.57 million from the previously reported 1.54 million jobless claims.
While last week marked 11 consecutive week of deceleration, more than 45 million Americans have filed for unemployment insurance over the past 13 weeks.
While weekly claims have fallen for 11 straight weeks, there are signs that the labor market recovery may be stalling, according to ING economist James Knightley. “Today's jobless claims numbers suggest the reopening story isn't having as much of a positive impact on the labor market as hoped. It reinforces the case for more fiscal support to keep the economy on the recovery path,” Knightley said in a note Thursday.
Heidi Chung - Yahoo Finance