US Initial Jobless Claims Fall, but Unemployment Duration Lengthens

New applications for US unemployment benefits fell slightly, indicating the labor market remains on relatively stable footing.

The Labor Department said on June 18 that initial jobless claims for the week ended June 13 totaled 226,000, down 4,000 from the previous week. That was 1,000 higher than the 225,000 forecast compiled by Dow Jones.

The US labor market has remained broadly resilient in recent months, with large-scale corporate layoffs still limited.

Continuing claims, which reflect the number of people receiving unemployment benefits for two weeks or more, rose to 1.81 million in the week ended June 6. That was up 24,000 from the prior week.

The increase in continuing claims suggests it is taking longer for workers who lose their jobs to find new positions.

Kim Ju-wan, Hankyung.com reporter kjwan@hankyung.com