US Jobless Claims Rose to 412,000 Last Week
Summary from the AllSides News Team
On Thursday, the Labor Department reported that jobless claims rose to 412,000 last week, the first increase since April.
The increase in the number of Americans applying for unemployment benefits is seen by some economists as a temporary occurrence, as eight states move to end extra jobless benefits.
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From the Left
U.S. Jobless Claims Rose Last Week for First Time Since AprilApplications for U.S. state unemployment insurance rose slightly for the first time since late April, likely a temporary blip for a labor market that’s otherwise improving as the economy reopens.
Initial claims in regular state programs increased by 37,000 to 412,000 in the week ended June 12, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for 360,000 applications.
The jump in claims was concentrated in three states -- Pennsylvania, California and Kentucky. Even with the increase, layoffs have declined significantly in recent months as...
From the Right
New jobless claims at 412,000, more than expectedThe number of new applications for unemployment benefits rose 37,000 last week to 412,000, the Labor Department reported on Thursday.
The number of new jobless claims represents the number of people who filed for unemployment in the previous week. The new figure was more than forecasters’ expectations of 359,000 new claims. The number is also higher than the week before, which saw 375,000 filings.
Weekly jobless claims are being watched closely as the U.S. economy recovers because recent monthly jobs reports have been less than stellar and have added to concerns that...
From the Center
Jobless Claims Rose Last Week, Pausing Downward TrendWorker filings for initial unemployment benefits rose by 37,000 to 412,000 last week, marking the first increase since late April and pausing what had been a steady downward trend in filings.
The increase was the biggest jump since late March, the Labor Department said on Thursday. Claims for the prior week were revised slightly to 375,000.
The four-week moving average, which smooths out week-to-week volatility, reached a new pandemic low of 395,000. This is the lowest average level since March 2020, when the pandemic first took hold in the U.S.
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