U.S. initial unemployment claims rise by 2K to 315K in June 28 week

Nathan Andrada – Fourth Estate Cooperative Contributor

Washington, DC, United States (4E) – First-time applications for jobless benefits edged higher last week, but stayed near pre-recession levels.

In the week ended June 28, initial claims for unemployment benefits rose by 2,000 to a seasonally adjusted 315,000, according to the Labor Department data released Thursday.

Economists had forecast claims to rise to 314,000 from the previous week’s initially reported reading of 312,000.

The Labor Department’s less volatile four-week moving average climbed to 315,000, higher by 500 from the prior week’s revised reading of 314,500.

Continuing claims, the number of people who received ongoing unemployment assistance, also increased to 2.579 million in the June 21 week from the previous week’s revised figure of 2.568 million.

Meanwhile, the four-week moving average of continuing claims dropped to 2,580,250, declining by 6,000 from the prior week’s revised level of 2,586,250.

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