US jobless claims fall

The number of US workers filing new claims for jobless benefits fell 5,000 last week, government data on Thursday showed, but claims remained near levels indicating a sluggish labour market amid a cooler economy.
Initial claims for state unemployment insurance benefits declined to a seasonally adjusted 381,000 in the week ended June 14, from a revised 386,000 the prior week, the Labour Department said. "The data suggest that the labour sector continues on a pace of modest deterioration with the unemployment (rate) remaining elevated," said Joseph Brusuelas, chief economist at Merk Investments.
Analysts polled by Reuters had forecast 375,000 new claims versus a previously reported count of 384,000 the week before. A Labour Department official said there were no special factors influencing the report. Weekly claims above the 400,000 level have been associated with US recessions in the past. Some economists think that the economy has already past that point.