Weekly Jobless Claims Come In Above Economist Estimates, Thursday, July 05, 2007 8:51:15 AM
Thursday morning, the Department of Labor released its report on initial jobless claims in the week ended June 30, showing that jobless claims increased compared to an upwardly revised reading for the previous week.The report showed that jobless claims rose to 318,000 from the previous week`s revised figure of 316,000. Economists had been expecting jobless claims to come in at 315,000 compared to the 313,000 originally reported for the previous week.
The Labor Department also said that the less volatile four-week moving average rose to 318,500 from the previous week`s revised average of 316,750.
Additionally, continuing claims in the week ended June 23 rose to 2.569 million from the preceding week`s revised level of 2.485 million.
On Friday, the Labor Department is due to release its employment report for the month of June, with economists expecting the report to show that the economy added around 125,000 jobs. The unemployment rate is expected to remain at 4.5 percent.
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posted by Kalin Tasev @ 6:24 AM
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