U.S. Initial Jobless Claims Increase Much More Than Expected
(RTTNews) - A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by much more than expected in the week ended July 27th.
The report said initial jobless claims climbed to 249,000, an increase of 14,000 from the previous week's unrevised level of 235,000. Economists had expected jobless claims to inch up to 236,000.
The Labor Department said the less volatile four-week moving average also crept up to 238,000, an increase of 2,500 from the previous week's unrevised average of 235,500.
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