Jobless Claims Hold Steady

By Rachel Kaufman Comment

The needle barely moved on last week’s initial jobless claims, with the number of people filing for unemployment insurance falling by just 1,000 to 428,000. The four-week moving average rose 500 to 426,750, the Labor Department reported.

It was the twelfth week that claims remained above 400,000.

Continuing claims fell, but more slowly than they had been: for the week of June 11, the most recent week data were available, 7.51 million Americans were receiving continuing benefits, a decrease of 30,701 from the week prior.

Reuters reports that payrolls are expected to have increased by 90,000 in June; the employment report for June will be released July 8.