Initial Jobless Claims Climb to 429,000

Financial News Network
June 27, 2011 AT 12:03 AM
Initial jobless claims rose 9,000 in the week ended June 18th from the week prior's revised figure of 420,000, for a total of 429,000 seasonally adjusted claims, according to the Department of Labor's weekly report.Economists had been expecting claims to come in at 415,000 for the week. The prior week was originally reported as 414,000.The four-week moving average was flat once again, at 426,250, taking this week's revisions into account.On an unadjusted basis, there were 394,925 claims under state programs in the week, a decrease of 5,683 from the prior week, and down from the 427,080 claims reported one year ago.The total number of people claiming benefits in all state and federal programs increased 137,220 to 7.54 million for the week ending June 4, the most recent week for which statistics are available.