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Business Briefing / Employment

Jobless claims rise by 30,000

July 24, 2009|Times Wire Reports

The number of Americans filing claims for unemployment benefits jumped last week from a six-month low as distortions caused by shifts in the timing of auto plant shutdowns subsided.

Applications rose by 30,000 to 554,000 in the week ended July 18, in line with forecasts, figures from the Labor Department show. Claims had fallen by 93,000 over the previous two weeks.

The four-week moving average of jobless claims, a less-volatile measure than weekly initial claims, declined to 566,000, the lowest level since January, from 585,000. The level of continuing claims decreased by 88,000 to 6.23 million in the week ended July 11, the lowest since April, from 6.31 million.

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