US Weekly First-Time Claims For Unemployment Benefits Rose Sharply Last Week to 354,000, Higher Than What Analysts Expected

  @MalikFromLA on June 20 2013 8:37 AM
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A man waits in line to talk to recruiters while attending a job fair in New York, June 11, 2013. Reuters / Lucas Jackson

The number of Americans applying for first-time unemployment benefits rose last week to 354,000, a sharp increase of 18,000, which was much more than the number that analysts were expecting, the Labor Department said Thursday.

Analysts polled by Thomson Reuters I/B/E/S expected, on average, claims for the seven days ended Saturday to rise to 340,000, just  above the previous week's seasonally adjusted figure of 334,000.

For the seven days ended June 15, the four-week moving average was 348,750, an increase of 2,500 from the previous week's unrevised average of 345,750. By comparison, during the comparable week last year there were 386,000 first-time claims filed.

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