The number of Americans filing
initial claims for jobless benefits may have declined last
week as rising demand encouraged companies to retain workers,
according to a survey of economists.
The Labor Department in Washington will probably say Thursday
that first-time applications for unemployment insurance fell to
340,000 from 352,000 the week before, according to the median
forecast of 40 economists in a Bloomberg survey. Claims reached
a three-year low of 318,000 in April and averaged 341,250 in May.
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Improving sales and profits have given companies confidence
to spend more on hiring, and economists are increasingly
optimistic recent job gains will be sustained. The U.S. economy
added 1.2 million jobs during the first five months of this year.
Bloomberg News
