Jobless Claims Higher Than Expected Staff
Posted: Jun 23, 2011 9:44 AM
Jobless Claims Higher Than Expected
Weekly jobless claims climbed to 429,000 for the week ending June 18. It was the 11th consecutive week above 400,000, the level claims need to drop below to dent the unemployment rate.

Applications for initial jobless benefits for the week were up from a revised 420,000 the previous week, according to data released by the Labor Department on Thursday. The number of claims exceeded consensus predictions for a rise to 415,000 from an initially reported 414,000 for the previous week.