Thursday, July 17, 2008

Jobless claims rise to 366,000 last week

The number of U.S. workers filing new claims for jobless benefits rose by a less-than-expected 18,000 last week to 366,000 on a seasonally adjusted basis, a Labor Department report showed on Thursday.
Analysts polled by Reuters had forecast initial claims for state unemployment insurance benefits to rebound to 380,000 after a sharp drop the prior week to 348,000 that was initially reported as 346,000.

Claims data is volatile because of annual auto plant shutdowns. The latest week's increase partly reflects the larger-than-expected decline the week before, a Labor Department official said.

On a non-adjusted basis, claims had been expected to rise 12.9 percent last week, but actually rose 18.5 percent, the official said.

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