Initial Jobless Applications Rise Last Week

Washington, DC, July 21, 2011 -- Initial applications for unemployment benefits rose last week, according to the Labor Department.

Initial claims rose by 10,000 to a seasonally adjusted 418,000 in the week ended July 16.

Economists had expected applications to fall 403,000. Claims in the prior week were revised up to 408,000 from an original reading of 405,000.

The average of new claims over the past four weeks, meanwhile, fell 2,750 to 421,250, the lowest level since late April.