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News > Economy
U.S. jobless claims drop
June 21, 2001: 9:24 a.m. ET

New claims fell to 400,000 last week but job market still weak
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NEW YORK (CNNfn) - Fewer Americans lined up for unemployment benefits last week but the number of new claims remained relatively high, the government said Thursday, a sign of further weakness in the job market.

New claims for state unemployment insurance benefits fell to 400,000 last week from a revised 434,000 the prior week, the Labor Department said. Wall Street economists had forecast a reading of about 425,000.

The government had no anecdotal evidence to explain the drop, department spokeswoman Cindy Ambler said, according to Reuters.

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The four-week moving average of new claims, closely watched by economists since it smoothes weekly fluctuations, fell to 422,500 for the latest period from 425,250.

New claims have been above 400,000 -- a sign of a softening labor market -- for five straight weeks, the longest run since a similar string in August and September of 1992, the department said.

Continued claims from workers who have claimed at least a week of benefits rose to 2.99 million in the week ended June 9, the latest data available, from 2.92 million previously. graphic

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.