Unemployment Rate, Jobless claims rise last week

The unemployment claims in the United States rose last week from the eight-year low level recorded in previous week.

The report released by the US Labor Department on Thursday showed that the initial claims for jobless benefits rose by 23,000 to 302,000.

The number of applicants continuing to receive unemployment benefits increased by 23,000 in the week that ended on July 26.

The jobless claim was down by 5,000 to 279,000 in the previous week.

The economists say the initial claims for unemployment benefits reflect the latest firing trends in a week. A declining trend in unemployment claims is a good signal for labour market, experts say.

The private companies in the United States added 218,000 jobs in July, showed National Employment report which was released jointly by Moody’s Analytics and Automatic Data Processing (ADP).

This is the fourth straight month to witness growing job trend above 200,000.

Earlier in June, the employment growth in the United States surged, giving clear indication of influential evidence that the economy is growing after a surprisingly big slump at the start of the year.

The non-farm payroll employment increased by 288,000 in June, the Labor Department said earlier this month. The jobless rate declined from 6.3 percent to 6.1 percent, giving clear indications that the job market was improving. This was the lowest level since September 2008.

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Christina Langfold

Remember that weird girl in school who never quite managed to fit in? Who was always silent and strange? That was me during my entire teenage life. A few years after finishing college (with a degree in arts) I decided that the best way to become more sociable, while also feeling safe, is to test my people skills online.