Initial Jobless Claims Better Than Expected

Washington, DC, July 23, 2009--Initial jobless claims rose less than expected last week, and continuing jobless claims fell in the latest numbers from the Labor Department.

Applications rose by 30,000 to 554,000 in the week ended July 18, below economists' forecasts of 577,000.

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.

The unemployment rate among people eligible for benefits, which tends to track the jobless rate, held at 4.7 percent in the week ended July 11.