Initial Jobless Claims Rose 7,000 Last Week to 319,000, Labor Says
The number of Americans filing for unemployment benefits for the first time rose 7,000 in the week ended July 2 to 319,000, according to a Labor Department report released Thursday.The four-week moving average, which is a less volatile labor statistic, fell to 320,500 from 324,000 in the same week, Labor said.Analysts had expected claims to rise to 320,000 for the week, Bloomberg said.Bloomberg reported that a Labor Department spokesman attributed the gain in initial claims to annual workforce adjustments in the automobile manufacturing industry and claims by school bus and cafeteria workers during the summer break.
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