MW: Jobless claims tumble to 8-week low of 259,000 as labor market stays strong
Fewer Americans filed for jobless benefits in the June 18 week, another sign that the labor market is withstanding choppiness in other segments of the economy.
There were 259,000 initial claims, a decline of 18,000 from the prior week. Economists surveyed by MarketWatch had forecast 270,000.
It marked the 68th week in which claims were lower than 300,000, the longest such streak since 1973.
The four-week moving average, which smooths out weekly bumpiness, was 267,000, down 2,250.
Continuing claims also decreased, falling to 2.14 million from an upwardly-revised 2.16 million.
