Initial jobless claims fall last week

(June 7, 2012) -- Initial unemployment insurance claims in the United States fell 12,000 in the week ending June 2 to reverse much of an upwardly revised 16,000 increase to 389,000 the previous week. Despite the weekly decline, however, the four-week moving average of initial claims, which better controls for weekly volatility, rose for a second consecutive week inching up to 377,750 from 376,000 the previous week.