US initial jobless claims fall after rising to highest level

Initial unemployment claims in the US fell to 411,000 last week, after rising to the highest level in a month in the prior week, the Labour Department reported.
In the week ending on June 19, the number of Americans filing for unemployment benefits decreased by 7,000 from the previous week's upwardly revised level of 418,000, according to a report released on Thursday by the Department's Bureau of Labour Statistics.

The four-week moving average, a method to iron out data volatility, increased by 1,500 to 397,750, reports Xinhua news agency.

The latest report also showed that the number of people continuing to collect regular state unemployment benefits in the week ending June 12 decreased by 144,000 to reach 3.39 million.

That number peaked in April and May last year, when it was over 20 million.

Meanwhile, the total number of people claiming benefits in all programs, state and federal combined, for the week ending June 5 increased by 3,756 to reach nearly 14.85 million, as the country continues to grapple with the fallout of the pandemic.-IANS