Weekly jobless claims report shows mixed results(Read article summary)
The US Department of Labor released its weekly jobless claims report on Thursday. Initial unemployment claims increased by 8,000, but continued unemployment claims decreased by 20,000.
Yesterday's jobless claims report showed an increase to initial unemployment claims and a decline to continued unemployment claims as seasonally adjusted initial claims hovered very near the 300K level.
Seasonally adjusted “initial” unemployment claims increased 8,000 to 312,000 claims from 304,000 claims for the prior week while seasonally adjusted “continued” claims declined by 20,000 to 2.603 million resulting in an “insured” unemployment rate of two percent.