The U.S. Department of Labor is reporting that an additional 1.508 million Americans made their initial filing for unemployment benefits during the week ending on Saturday June 13th. A decline of 58,000 from the previous week’s revised level. It marks the eleventh straight week of declines in initial claims since the week ending March 28th, when it hit a record peak of 6.9 million. The four-week moving average decreased to 1,773,500, from a revised average of 2,008,000 in the previous week. This week’s new claims brought the thirteen-week total to 45.7 million. The number for seasonally adjusted insured unemployment, known as continuing claims, declined slightly by 62,000 to a seasonally adjusted level of 20,544,000 in the week ending June 6. The four-week moving average was 20,814,750, a decrease of 1,092,000 from the previous week’s revised average. The seasonally adjusted insured unemployment rate remained unchanged at 14.1% for the week ending June 6. The previous week’s rate was revised down by 0.3% point from 14.4% to 14.1%.
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