Jobless Claims Rise on Auto Seasonality

Washington, DC, July 19, 2012 -- Initial applications for unemployment benefits rose 34,000 to 386,000 last week, according to the Labor Department.

The report reflected typical summertime fluctuations in auto-industry employment.

Claims for the previous week were revised up to 352,000 from 350,000.

The weekly report is usually volatile in July because of the annual retooling process by auto makers.