Economic Report: Jobless claims flat at 218,000 in early June, labor market still going strong

The strongest labor market in decades has pushed the unemployment rate and pace of layoffs down to extremely low levels. The numbers: The number of people who applied for unemployments benefits in early June was flat, leaving new jobless claims near a post recession low and suggesting little deterioration in the strongest labor market in…

Economic Report: Jobless claims flat at 218,000 in early June, labor market still going strong

The strongest labor market in decades has pushed the unemployment rate and pace of layoffs down to extremely low levels. The numbers: The number of people who applied for unemployments benefits in early June was flat, leaving new jobless claims near a post recession low and suggesting little deterioration in the strongest labor market in decades. Initial jobless claims, a rough way to measure layoffs, was flat at 218,000, the government said Thursday. The prior week’s tally was revised up to 218,000 from 215,000, however.

Economists polled by MarketWatch estimated new claims would total a seasonally adjusted 215,000 in the seven days ended June 1. The more stable monthly average of new claims fell by 2,500 to 215,000 and touched the lowest level since late April. The four-week average gives a more accurate read into labor-market conditions than the more volatile weekly number. Read: Weak unions, globalization not to blame for shrinking slice of income pie for workers What happened: The rate of layoffs has clung near a half-century low even though the U.S. economy has softened. Companies are so worried about finding good workers in an era of low unemployment that they are reluctant
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