Jobless claims rise more than expectedNews added by ProWEB Media on July 22, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

New claims for jobless benefits rose more than expected last week, as the U.S. labor market continues to struggle.

Initial claims for state unemployment benefits climbed 37,000 to a seasonally adjusted 464,000 for the week ended July 17, according to the Labor Department.

One official said that there were no specific factors affecting the numbers, but added that the July 4th holiday the previous week could have produced a backlog in processing applications.

Meanwhile, the four-week moving average for new jobless claim rose 1,250 to 456,000 last week.
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