Jobless Claims Continue to Swell as Businesses Still on Sideline
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Data Thursday showed filings for jobless benefits in the U.S. increased by 9,000 to 429,000 during the week ended June 18. Economists were calling for a reading of 415,000.
The prior week reading was revised higher from 414,00 to 420,000.
Following a drop to a three-year low in February, swelling claims indicate businesses are still fearful about expanding payrolls as mixed economic data over the last several weeks has many on the fence.
In this latest report, claims in six states were said to be estimated due to "technical problems." Those states included Ohio, Mississippi, Oregon, New Hampshire and Washington, as well as the Virgin Islands.
Bloomberg notes the four-week moving average stayed flat at 426,250.
The number of people continuing to collect jobless benefits fell by 1,000 to 3.697 million. Economists on the Street had been expecting continuing claims to fall to 3.67 million.
Continuing claims does not include the number of workers receiving extended benefits under federal programs.
The prior week reading was revised higher from 414,00 to 420,000.
Following a drop to a three-year low in February, swelling claims indicate businesses are still fearful about expanding payrolls as mixed economic data over the last several weeks has many on the fence.
In this latest report, claims in six states were said to be estimated due to "technical problems." Those states included Ohio, Mississippi, Oregon, New Hampshire and Washington, as well as the Virgin Islands.
Bloomberg notes the four-week moving average stayed flat at 426,250.
The number of people continuing to collect jobless benefits fell by 1,000 to 3.697 million. Economists on the Street had been expecting continuing claims to fall to 3.67 million.
Continuing claims does not include the number of workers receiving extended benefits under federal programs.
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