Jobless Claims Remain Near Historic Lows

Jobless claims remain very low and are consistent with a low unemployment rate and strong job growth. Initial claims totaled 218,000 in the June 9 week with the 4-week average down slightly to 224,250. Continuing claims, where data lag by a week, fell a sizable 49,000 to 1.697 million with this 4-week average down 4,000 to 1.726 million. All of these readings are at or near historic lows with the 4-week average for continuing claims the lowest since December 1973. The unemployment rate for insured workers is unchanged at a very low 1.2 percent.