http://www.reuters.com/article/2011/06/23/us-usa-economy-idUSTRE75K3E820110623
IT's THE JOBS STUPID, IT'S THE JOBS.........again over 400,000 new claims
(Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, suggesting little improvement in the labor market this month after hiring stumbled badly in May.
Initial claims for state unemployment benefits climbed by 9,000 to 429,000, the Labor Department said on Thursday. Economists had expected claims to come in at 415,000.
The claims report, which covers the survey period for the government's closely watched data on nonfarm payrolls for June, came a day after the Federal Reserve gave a downbeat assessment of the economy.
The government's employment report for June will be released on July 8. Claims for unemployment benefits increased by 15,000 between the May and June survey periods, implying another soft month for jobs after employment rose by only 54,000 in May.
"The labor market remains in a funk, it doesn't seem like it has improved much this month and the rise in claims will keep expectations for June nonfarm payrolls in check," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.
IT's THE JOBS STUPID, IT'S THE JOBS.........again over 400,000 new claims
(Reuters) - The number of Americans filing new claims for unemployment benefits rose last week, suggesting little improvement in the labor market this month after hiring stumbled badly in May.
Initial claims for state unemployment benefits climbed by 9,000 to 429,000, the Labor Department said on Thursday. Economists had expected claims to come in at 415,000.
The claims report, which covers the survey period for the government's closely watched data on nonfarm payrolls for June, came a day after the Federal Reserve gave a downbeat assessment of the economy.
The government's employment report for June will be released on July 8. Claims for unemployment benefits increased by 15,000 between the May and June survey periods, implying another soft month for jobs after employment rose by only 54,000 in May.
"The labor market remains in a funk, it doesn't seem like it has improved much this month and the rise in claims will keep expectations for June nonfarm payrolls in check," said Ryan Sweet, a senior economist at Moody's Analytics in West Chester, Pennsylvania.
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