Initial claims for state unemployment benefits in the June 20 week rose 15,000 to 627,000, above analysts’ expectations, according to data released by the Labor Department yesterday.
The department noted a lot of additional states reporting layoffs in the educational services sector related to the end of the school year.
A Market News International survey had expected the initial claims level to rise to 613,000 this week from the originally reported 608,000 in the June 13 week. Expectations ranged from 595,000 to 615,000.
Initial claims for the June 13 week were revised up 4,000 to 612,000. Claims for the June 6 week stayed unchanged at 605,000.
The initial claims seasonally adjusted four-week average rose 500 to 617,250.
In the June 13 week, continuing claims rose after falling the previous week, up 29,000 to 6.738 million. Continuing claims were 3.149 million in the comparable week a year ago.
— Market News International