Jobless claims fall to 267,000, well below expectations

First-time claims for unemployment benefits fell to 267,000 for the week ending June 13, the Department of Labor reported Thursday.

The total of initial claims was down by 12,000 from a week ago, and well below expectations.

The four-week moving average for claims remained near the lowest levels it has been since the year 2000, at 276,750.

Weekly claims are adjusted for seasonal variations.

Low unemployment claims are viewed as a sign of few layoffs and strength in the labor market, and as a leading indicator for job growth.

Touching the lowest levels in over a decade in recent weeks, jobless claims have been one of the most consistently encouraging economic indicators in a year that was marked by divergent signals from the economy and labor market early in the year.

Low unemployment claims have translated into relatively strong job gains in recent months. The Bureau of Labor Statistics reported earlier this month that the economy added 280,000 payroll jobs in June.

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