Economic Report: Jobless claims drop 13,000 to 221,000 in late May

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Americans don’t have to wait in line to find a job these days. Unemployment has dropped below 4% and job openings are at a record high.

The numbers: U.S. jobless claims fell at the end of May, suggesting that a recent increase in the rate of layoffs stemmed mostly from seasonal quirks whose effects are already fading.

Initial jobless claims declined by 13,000 to 221,000 in the week ended May 26. Economists polled by MarketWatch had forecast a 225,000 reading.

The more stable monthly average of claims, meanwhile, rose by 2,500 to 222,250.

The number of people already collecting unemployment benefits dropped by 16,000 to 1.73 million, the government said Thursday.

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