Initial Jobless Claims Fall

Washington, DC, June 16, 2011 -- Initial jobless claims for unemployment benefits fell last week, though applications remain above levels consistent with a healthy economy.

The Labor Department said that the number of new people signing up for unemployment benefits fell 16,000 to a seasonally adjusted 414,000, the second drop in three weeks.

However, applications have been above 400,000 for 10 straight weeks, evidence that the job market is weak compared to earlier this year.

Applications had fallen in February to 375,000, a level that signals sustainable job growth.