Jobless Claims Remain below Key Level

June 13, 2002 ( - The number of initial unemployment benefits claims filed last week was up again, the Department of Labor (DoL) announced.

After recently falling below the key 400,000 level that analysts view as symptomatic of a recession, the number of people filing for unemployment benefits increased by 6,000 to 390,000 for the week ending June 8.

The number was slightly below the expectations of analysts polled by Reuters, who anticipated the number to reach 391,000.

The four-week moving average, considered a better measure of the unemployment situation because it smoothes out weekly fluctuations, fell by 8,750 to 402,500, its lowest level in almost three months.