Weekly jobless claims decline, after spike around Memorial Day

The number of first-time jobless claims drop last week by 7,000, compared to a week earlier, the Labor Department said Thursday. 

The department reported 411,000 claims last week, compared to 418,000 the previous week, according to the Associated Press.

The increase two weeks ago was the first since April, as the U.S. and world economies try to recover from the COVID-19.

Some analysts have attributed the spike two weeks ago to an outlier related to Memorial Day.

In total,14.8 million Americans received jobless benefits during the week ended June 5, the latest data available, little change from the previous week, the wire service also reports.