Jobless Claims Jump 37,000; Back Up To 464k

After falling two weeks ago to nearly the lowest level in two years, jobless claims by first-time filers last week rose 37,000 to 464,000, the Department of Labor reported today.

For the week ended July 10, New York state reported 18,000 more layoffs than the previous week, due to cuts in transportation and public administration.

Meanwhile, for the week ended July 3 (the most recent week data are available), the number of people claiming extended benefits from the federal government fell by 404,049 to 3.5 million. However, the Senate late last night passed an extension of unemployment benefits, retroactive to June 2.