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Jobless Claims Below 300k for 15th Straight Week

Jobless Claims Below 300k for 15th Straight Week

Initial claims for unemployment benefits fell to a seasonally adjusted 267k for the week ending June 13 the Labor Department said on Thursday. This marks the 15th consecutive week that claims have stayed below 300k, the longest stretch since 2000. Continuing claims also fell to 2.22M for the week ended June 6 according to the WSJ. The peak for initial claims was in March 2009 at 665k, when unemployment neared 10%. While the overall unemployment rate of 5.5% shows marked improvement, it fails to account for the under-employed and those who have given up looking for work. [WSJ]