U.S. Jobless Claims Drop

July 5, 2012
The Labor Department reported 374,000 jobless claims were filed in the week ending June 30, down by 14,000 from last week.

New claims for unemployment benefits fell sharply last week, suggesting a slowdown in the pace of layoffs, official data showed July 5 ahead of the highly anticipated June labor data.

The Labor Department reported 374,000 jobless claims were filed in the week ending June 30, down by 14,000 from the prior week's upwardly revised 387,250 claims.

The decline in jobless claims was significantly sharper than the 385,000 reading expected by analysts.

In another sign of improvement in the troubled jobs market, the four-week moving average of claims dropped by 1,500 to 835,750, the government reported.

Separately, payroll company ADP said the U.S. private sector added 176,000 jobs in June, 29% more than in May and well above the consensus expectation of 105,000.

The upbeat data came ahead of June labor data to be issued on July 6. Analysts estimate the unemployment rate will hold steady at 8.2% and 100,000 jobs were added, compared with a meager 69,000 in May.

Copyright Agence France-Presse, 2012

Popular Sponsored Recommendations

Legacy Phone Lines Are Draining Your Profits

Oct. 30, 2023
Copper wire phone line expenses that support emergency devices could be costing your company millions of dollars in wasteful overhead expenses. Rates have been skyrocketing while...

Gain a competitive edge with real-world lessons on private 5G networks

Nov. 16, 2023
The use of private networks in manufacturing applications is rapidly growing. In this paper, we present valuable insights and lessons learned from the field with the goal of enhancing...

Powering Up Productivity: The Transformative Power of AP Automation in Manufacturing

Oct. 25, 2023
Discover how AP Automation is revolutionizing the manufacturing industry, driving efficiency, cost savings, and security. In today's world, automation is the key to staying competitive...

How to Achieve a Sustainability Breakthrough by Increasing Data Resolution

Aug. 22, 2023
Learn how looking at data differently can help companies address sustainable operations challenges.

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!