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- U.S. jobless claims rise more than expected
U.S. jobless claims rise more than expected
The data from the Labor Department revealed the number of applications for unemployment benefits rose more than expected last week but continued to point to a tightening labor market. According to the report, the initial claims for unemployment benefits increased by 10,000 to a seasonally adjusted 244,000 for the week ended July 22. Economists had expected 241,000 new claims last week. Claims for the prior week were revised upwardly to 234,000 from the initial estimate of 233,000. Meanwhile, the four-week moving average was unchanged at 244,000 last week. It was the 125th straight week that claims remained below the 300,000 threshold, the longest streak since 1970.
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