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Initial jobless benefit claims drop

June 7, 2012 at 2:17 PM   |   Comments

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WASHINGTON, June 7 (UPI) -- First-time jobless claims fell by 12,000 in the week ended Saturday, the U.S. Labor Department said.

Initial claims for unemployment benefits dropped to 377,000 from the previous week's revised estimate of 389,000.

The four-week rolling average, which gives a steadier indication of the direction of jobless claims rose by 1,750 to 377,750.

The largest increases in initial claims for the week ending May 26 were in Georgia (up by 2,078), Tennessee (up by 1,983) and Missouri (up by 1,898). The largest decreases were in Texas (down by 376), North Carolina (down by 371) and California (down by 344).

The U.S. unemployment rate is 8.2 percent, having risen 0.1 of a percentage point from April to May.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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