Unemployment Claims Decline
A recent report from the U.S. Department of Labor showed seasonally adjusted employment claims decreased in all categories, possibly signaling that employment could be strengthening and fewer workers may be losing their jobs.
Initial claims for the week ending June 11 decreased 16,000 from the previous week, and stood at 414,000. The initial claims four-week moving average was no different than the previous report, which was 434,750.
The insured unemployment rate was also unchanged for the week of June 4, and stood at 2.9 percent. The number of insured unemployment was 21,000 lower for the week ending June 4, and stood at 3,675,000. The most recent four week moving average also declined, and stood at 3,709,000 from the previous week's 3,724,250.
Consumers who have been laid off may not want to use their credit cards until they receive a flow of income again. Credit card debt can accrue quickly, and it ratings can be ruined in a short time if payments are not made.
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