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Financial News Network
July 01, 2011 AT 12:02 AM
Initial jobless claims for the week ended June 25 were 428,000 seasonally adjusted, down from the previous week's unrevised figure of 429,000, the Department of Labor reported today.That was slightly higher than the 425,000 that economists had expected. The 4-week moving average increased 500 to 426,750.In the year-ago week, there were a seasonally adjusted 472,000 initial jobless claims.The insured unemployed, those receiving state unemployment checks, fell 12,000 to a seasonally adjusted 3.7 million for the week ended June 18th. That represents 2.9% of the workforce.Continuing insured unemployment claims are reported with a one-week lag.A total of 7.51 million people got some kind of state or federal jobless benefit in the week ended June 11, down 30,701 from the week prior.Total continuing jobless claims are reported with a two-week lag.