- U.S. weekly jobless claims total 412,000
Market news
U.S. weekly jobless claims total 412,000
The
data from the Labor Department revealed on Thursday the number of applications
for unemployment unexpectedly increase last week.
According
to the report, the initial claims for unemployment benefits rose by 37,000 to 412,000
for the week ended June 12. This was the highest reading since the week ended
May 15 and marked the first increase in initial claims in seven weeks.
Economists
had expected 359,000 new claims last week.
Claims for the prior week
were revised downwardly to 375,000 from the initial estimate of 376,000.
Meanwhile,
the four-week moving average of jobless claims fell to 395,000 from an upwardly
unrevised 403,000 in the previous week.
Continuing
claims went up to 3,518,000 from an upwardly revised 3,517,000 in the previous
week.
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