Applications for US unemployment benefits ticked down last week as initial claims decreased by 5,000 to 245,000 in the week ended June 14. Michael McKee reports on Bloomberg Television.

The report from the Labor Department showed widespread layoffs the week before, which had boosted claims to an eight-month high.

WASHINGTON (Reuters) -The number of Americans filing new applications for unemployment benefits fell last week, but stayed at levels consistent with a further loss of labor market momentum in June ...

The four-week moving average of claims, which strips out seasonal fluctuations from the data, increased 4,750 to 245,500 last week, the highest level since August 2023.