Initial Unemployment Claims Edge Down

Washington, DC, June 30, 2011 — Initial applications for unemployment benefits edged down last week to 428,000, according to the Labor Department.

That’s a drop of 1,000 from the previous week.

Economists had expected initial claims to fall to a seasonally adjusted 425,000 in the week ended June 25.

The average of new claims over the past four weeks, meanwhile, was essentially unchanged at 426,750.