U.S. Weekly Jobless Claims Edge Down In Line With Estimates

(RTTNews) - First-time claims for U.S. unemployment benefits edged modestly lower in the week ended June 14th, according to a report released by the Labor Department on Wednesday.

The report said initial jobless claims dipped to 245,000, a decrease of 5,000 from the previous week's revised level of 250,000.

Economists had expected jobless claims to slip to 245,000 from the 248,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average crept up to 245,500, an increase of 4,750 from the previous week's revised average of 240,750.

With the uptick, the four-week moving average reached its highest level since hitting 246,000 in the week ended August 19, 2023.