By Kevin Kastner and Ian McKendry
WASHINGTON (MNI) – Initial claims for U.S. state unemployment
benefits rose 13,000 to 472,000 in the June 26 week, as unadjusted
claims rose more than seasonal factors expected, the U.S. Labor
Department reported Thursday morning.
The previous week’s claims figure was revised up slightly to
459,000 from the previously reported 457,000.
The latest week’s seasonal factors expected a 0.8% gain, or about
3,000 claims. Unadjusted claims instead rose 3.5%, or 14,867 claims to a
level of 438,305. Unadjusted claims stood at 559,857 in the comparable
week a year earlier.
A Labor Department analysts noted that only one state, Utah, was
estimated in the June 26 week.
The initial claims seasonally adjusted 4-week moving average rose
3,250 to 466,500 in June 26 week, the highest level since the March 6
week.
Continuing claims in the June 19 week jumped 43,000 to 4.616
million.
The seasonally adjusted insured unemployment rate held steady at
3.6% in the June 19 week, but was down sharply from the 4.9% rate in the
comparable week a year earlier.
The unemployment rate among the insured labor force is well below
that reported monthly by the Labor Department because claims are
approved for the most part only for job losers, not the job leavers and
labor force reentrants included in the monthly report.
The Labor Department said that there were 217,513 less unadjusted
Emergency Unemployment Compensation benefits claims in the June 12 week,
pulling that category down to 4,515,499. Extended benefits claims fell
by 158,155 to 405,081 not seasonally adjusted.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]
