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Jobless claims average up, total claims rise 10,000

July 02, 2015

The US four-week moving average of initial claims for unemployment insurance rose by 1,000 last week to a total of 274,750 from the previous week’s unrevised average, according to seasonally adjusted numbers released today by the US Department of Labor.

The four-week moving average decreases the volatility of the weekly numbers. Total initial claims for unemployment insurance for the week ended June 27 rose by 10,000 to a total of 281,000 from the previous week’s unrevised level.

No special factors affected this week’s initial claims.

Economists surveyed by The Wall Street Journal expected 270,000 new claims last week.

“We are especially wary of taking much signal from the weekly changes reported around holidays like July 4,” the Journal reported J.P. Morgan economist Daniel Silver as saying in a note to clients. “And even with the latest increase in claims, the trend in the data remains consistent with a relatively low level of layoffs.”