Jobless Caims Up Last Week

Washington, DC, July 13, 2006–First-time applications for unemployment benefits rose by 19,000 in the latest week to 332,000, the highest since May 27, the Labor Department said Thursday.

The four-week moving average of new claims, meanwhile, rose by 8,750 to 317,250.

Continuing jobless claims fell in the week ending July 1 by 18,000 to 2.4 million. The four-week average of continuing claims rose by 2,000 to 2.4 million, the Labor Department said. It’s the highest in three months.

A year ago, continuing claims and the four-week average of continuing claims were both higher, at slightly more than 2.6 million.

Data for the week ending July 8 included 4,000 claims related to a government shut-down in New Jersey, a Labor Department spokesman said.

The unadjusted figures also include an unspecified number of claims related to a seasonal shut-down in the automobile industry, the spokesman said. Auto companies typically ready their factories for new-model production in early July.

Initial claims and the four-week average of initial claims for the week ending July 1 were unrevised.

The seasonally adjusted insured unemployment rate remained at 1.9%.