Initial Jobless Claims Rise by 25,0000

Washington, DC, June 12, 2008--Initial jobless claims for state unemployment benefits surged higher by 25,000 last week, hitting their highest level since late March, as the number of continuing jobless claims marked their highest level since early 2004, the Labor Department reported Thursday.
 
Initial jobless claims jumped  to 384,000. It's the highest since March 29.

The four-week average of initial claims, which measures employment trends, was slightly lower, at 371,500.

Continuing unemployment claims reversed  from a week earlier and posted a gain of 58,000, pushing the number up to 3.14 million for the week ending May 31.

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