Initial Jobless Claims Rise 9,000
NEW YORK ( TheStreet) -- An increase in the number of Americans filing jobless claims offered yet another sign of a sluggish economic recovery.
For the week ended June 18, 429,000 people filed for unemployment benefits for the first time, an increase of 9,000 from the previous week, according to a report from the Department of Labor. Economists were expecting a marginal decline of 1,000 to 413,000.
The four-week moving average in initial claims was about unchanged from the previous week's revised 426,250. Continuing claim levels ticked down slightly from 3.698 million to 3.697 million.
The focus on the lackluster jobs recovery has intensified as the number of claims has failed to drop below 400,000 for ten consecutive weeks.
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