Jobless Claims Keep Dropping

The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a further tightening in labor market conditions. Initial claims for state unemployment benefits decreased 3,000 to a seasonally adjusted 218,000 for the week ended June 16, the Labor Department said on Thursday. Economists polled by Reuters had forecast claims rising to 220,000 in the latest week. Claims have now declined for four straight weeks.