There were 10,000 more first-time claims for unemployment insurance last week vs. the week before, the Employment and Training Administration just reported.
It says that:
"In the week ending July 16, the advance figure for seasonally adjusted initial claims was 418,000, an increase of 10,000 from the previous week's revised figure of 408,000. The 4-week moving average was 421,250, a decrease of 2,750 from the previous week's revised average of 424,000."
According to The Wall Street Journal, claims "unexpectedly rose last week following two declines, a setback for a sector that hasn't been producing many jobs."
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