Strength in the labor market continues as jobless claims down by 2,000 last week

Applications for jobless benefits totaled 313,000 during the week ending July 1, a drop of 2,000 from the previous week. The 4-week moving average was 308,500, an increase of 2,500 from the previous week's revised average of 306,000. The decline of 2,000 in jobless claims last week was the first drop in three weeks. 

The advance seasonally adjusted insured unemployment rate was 1.9% for the week ending June 24, unchanged from the prior week's rate of 1.9%.

The advance number for seasonally adjusted insured unemployment during the week ending June 24 was 2,455,000, an increase of 52,000 from the preceding week's revised level of 2,403,000. 

The highest insured unemployment rates in the week ending June 17 were in Puerto Rico (3.9%), Alaska (3.2), Michigan (2.8), Pennsylvania (2.8), and New Jersey (2.4).

The largest increases in initial claims for the week ending June 24 were in North Carolina (+6,495), New Jersey (+5,291), and Massachusetts (+3,378). 

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