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U.S. Initial Jobless Claims Fell Slightly Last Week to 411,000

Economic IndicatorsJun 24, 2021 08:36AM ET
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© Bloomberg. An employee inspects a tire at a bicycle production facility in Manning, South Carolina. Photographer: Micah Green/Bloomberg

(Bloomberg) -- Applications for U.S. state unemployment insurance fell last week, reflecting an improving economy.

Initial claims in regular state programs decreased by 7,000 to 411,000 in the week ended June 19, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 380,000 new applications. The prior week’s claims were revised up to 418,000.

Weekly unemployment claims have fallen considerably since the beginning of the year as health concerns abate and businesses like restaurants return to full capacity. Still, the initial claims remain significantly higher than they were before Covid-19 and many employers say they are having trouble finding workers.

Federal Reserve officials are focused on achieving maximum employment, which they define as a “broad and inclusive goal.” In a congressional hearing Tuesday, Chair Jerome Powell said that the labor market has a long way to go and needs continued support.

“The very quick job gains of the early recovery essentially involved going back to your old job,” Powell said. “Now it’s actually finding new jobs and that’s a that’s a matching function that that is more labor intensive and time consuming.”

©2021 Bloomberg L.P.

U.S. Initial Jobless Claims Fell Slightly Last Week to 411,000
 

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Comments (9)
Kaveh Sun
Kaveh Sun Jun 24, 2021 11:33AM ET
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It Means companies less layoff.
Jouni Matero
Jouni Matero Jun 24, 2021 11:11AM ET
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Revised. So that it looks numbers fell.
Ferdinando Riboni
Ferdinando Riboni Jun 24, 2021 10:16AM ET
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suckered...
Franco Dominguez
Franco Dominguez Jun 24, 2021 9:22AM ET
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good news??? 418 and doen 411, 7k below forecast 380 differencd 38k. its a bad news so slow
Hawre Nabil
Hawre Nabil Jun 24, 2021 9:07AM ET
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gold where going ?
Eric Gatch
Eric Gatch Jun 24, 2021 8:56AM ET
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Joe Biden wrecked Trumps economic recovery.
arthur santos
arthur santos Jun 24, 2021 8:56AM ET
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really??? But of course you're just a troll...
James Johannsen
James Johannsen Jun 24, 2021 8:56AM ET
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economy been garbage since 2008 get out of the left right paradigm lie they're all to blame
Ferdinando Riboni
Ferdinando Riboni Jun 24, 2021 8:56AM ET
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true
Jurgen Daub
Jurgen Daub Jun 24, 2021 8:56AM ET
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economy has never been that good for that long time after the reps had ruined it by 2008 with war games based on lies. Trump just jumped on the bandwagon and overheated it without real progress. now we have to joggle the mess he left behind.
Steffen vdm
Steffen vdm Jun 24, 2021 8:56AM ET
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James Johannsen Amen to that!
Jouni Matero
Jouni Matero Jun 24, 2021 8:51AM ET
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It's ok to miss the consensus quite a bit and no effect but if the numbers were expected, +200pts NQ. Ridiculous optimism and greed going on, doomsday behind the corner 👍
Christian Lewis
Christian Lewis Jun 24, 2021 8:46AM ET
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Republican govenor got it wrong ending the federal boost. 400k weekly claims after the discontinuation of the federal boost program shows there is a deeper problem in the labor market. Ending a program early that was scheduled to end in 10 weeks regardless will ultimately do more harm than good!
Joseph Wll
Joseph Wll Jun 24, 2021 8:46AM ET
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The only thing the Republicans got wrong is when they allowed the Dems to steal the WH! There were plenty of jobs coming back before then. #BrainWashedLiberals
TheEnd IsNigh
TheEnd IsNigh Jun 24, 2021 8:46AM ET
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Likely culprit? Employers figured out how to trim the fat. Near me, fast food restaurants have all but turned into drive-thrus only by shutting down the dining room space. That reduces the need of employees to clean the area, thus reducing hours/staff. On another end, they were finally forced to begin automating low skill positions. Those with subpar skillsets are finding the world closing in on them...and quickly. The pandemic shutdowns will ultimately have the greatest impact on those who individuals who didn't offer much to begin with. Instead of having a small sample of the population POSSIBLY prematurely passing away from a virus, they are literally starving millions upon millions of people and pushing them to literally riot in the streets. The coming socio-economic storm that is coming down the pipeline will make the summer of 2020 look rather benign.
Christian Lewis
Christian Lewis Jun 24, 2021 8:46AM ET
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Joseph Wll this still doesnt explain why unemployment went up after the boost ended! This will alienated millions of voters from the repulican party! Good luck winning elections after they basically told millions of their voters we dont care if your family starves! Many of the affected are poor republicans in poor states! Dont believe me look up the poorest states in the US! Theyre all ran by republicans! Wake up!
TheEnd IsNigh
TheEnd IsNigh Jun 24, 2021 8:42AM ET
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"Hard time finding workers" + increasing trend of new unemployment claims while states are eliminating the added UI benefits? Hmmm...what's wrong with this picture?
Mark Brovchuk
Mark Brovchuk Jun 24, 2021 8:42AM ET
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solid EVERYTHING. they just deny
Joseph Wll
Joseph Wll Jun 24, 2021 8:42AM ET
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It's called Americans are lazy because they would rather stay home and collect welfare than work. Dems love rewarding bad behavior because it encourages their base.
 
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