Jobless Claims Climb by Largest Amount in 5 Weeks

In the week ending June 17, the advance figure for seasonally adjusted initial jobless claims was 308,000, an increase of 11,000 from the previous week's revised figure of 297,000. 

The increase in number of Americans filing claims for unemployment benefits is the largest amount in five weeks, suggesting the impact of slowing economy on employment market.

  • The advance number for seasonally adjusted insured unemployment during the week ending June 10 was 2,439,000, an increase of 18,000 from the preceding week.
  • Analysts believe that job growth will weaken in coming months and layoffs will rise as businesses adjust their hiring plans in the face of an expected economic slowdown (AP).
  • 40 states and territories saw increases in claims applications while 13 saw a drop in applications.
  • The biggest decline occurred in Texas, a fall of 2,065 applications. 

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