Friday, July 2, 2010

US jobless claims surge more than expected

New claims for US unemployment benefits jumped more than expected last week, official data showed Thursday in a report highlighting persistent weakness in the troubled jobs market.

Initial claims for jobless benefits rose to 472,000 in the week ending June 26, an increase of 13,000 from the previous week's upwardly revised level of 459,000, the Labor Department said.

The average analyst forecast was 458,000 initial claims were filed.

The weekly claims data came on the eve of the department's key June jobs report, widely expected to show worsening conditions.

Most analysts expect the data Friday will show the unemployment rate rising to 9.8 percent from 9.7 percent in June, and the economy shedding 100,000 nonfarm jobs after adding 431,000 in the prior month.

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