July 1st, 2010
09:05 AM ET
4 years ago

Jobless claims higher than expected

New York (CNNMoney.com) - One day before the release of the June jobs report, a government report indicates the number of Americans filing first-time claims for unemployment insurance rose last week.

There were 472,000 initial jobless claims filed in the week ended June 26, up 13,000 from an upwardly revised 459,000 in the previous week, the Labor Department said Thursday.

The number of claims was higher than expected. A consensus estimate of economists surveyed by Briefing.com expected 458,000 claims.

The number of people filing continuing claims jumped to 4,616,000 in the week ended June 19, the most recent data available. That was up 43,000 from the preceding week's upwardly revised 4,573,000 claims.

Friday the Labor Department releases the June jobs report, which could bring more bad economic news. Economists are predicting the economy lost 100,000 jobs in June. The unemployment rate, which now stands at 9.7 percent, is expected to rise a tenth of a percentage point.


Filed under: Economy • issues
soundoff (40 Responses)
  1. MatthewDetroit

    NO JOBS....

    Congress is spending money.

    We are at 62% Debt to GDP.

    WE NEED TO STOP SPENDING MONEY...

    The estimate for 2020 is 90% because of Barack Obama.

    Would someone tell him and Nancy Pelosi to STOP spending.

    July 1, 2010 10:20 am at 10:20 am |
  2. Dean

    Obama--Bring jobs back to this country. Stop the outsourcing of jobs that still continues today. I continue to be amazed by the greed of corporate America and the stupidity of our government in allowing it.
    Put tariffs on goods imported and taxes on corporations who outsource.

    July 1, 2010 10:20 am at 10:20 am |
  3. Ancient Texan

    Unemployment will not drop and the economy will not improve until the uncertain load of taxes from Obamacare, new taxes to lower the deficit, new state and local taxes that have to be raised to keep those entities functioning, are made known to small businessess and corporations that provide jobs. Most small businesses survive on about 5% bottom line and can't absorb more expense and remain competitive.

    July 1, 2010 10:22 am at 10:22 am |
  4. munchmom

    And yet the Obama administration continues to claim the recession is ending.....ostriches, all of them!

    July 1, 2010 10:23 am at 10:23 am |
  5. File under "Sarcasm"

    What, no new census takers were hired to inflate the job numbers?

    Wouldn't it be nice if the Campaigner in Chief and his Party focused on the economy rather than trying to create more government bureaucracy and spending. The economy is going down for the second time and all he worries about are his signature liberal agenda items which are helping destroy it.

    July 1, 2010 10:24 am at 10:24 am |
  6. Illinois 2

    And the senate is still playing politics with the lives of all those that have there unemployment benifit run out.

    I sure will tell all of them that they will be remembered on election day, this is a promise!!!!

    July 1, 2010 10:26 am at 10:26 am |
  7. phoenix86

    Jobless claims should declince as Obama hires temp workers to assist him during his Summer Economic Recover As Long As You Don't Face Facts Tour.

    July 1, 2010 10:28 am at 10:28 am |
  8. Michael Armstrong Sr. Tx.

    Why does this surprise people the president gets rid of more jobs then he creates and only takes credit for the jobs he creates which dont equal out with the jobs he stops .

    July 1, 2010 10:30 am at 10:30 am |
  9. Renee

    Obama thinks the recession is over how could it be he spending the USA money on the world economy this very wrong. When this would help the economy for American people. He has forgotten us .A consensus estimate of economists who are these people? And where are they getting the information from. .All I see is unemployment ,foreclosures, credit card service at all time high. We are going down hill fast.

    July 1, 2010 10:44 am at 10:44 am |
  10. all the news that's fit to omit

    Why is it that everything bad having to do with this horrid adminstration's policies and estimates are "unexpected"?

    Tell you what was "expected", this gutless fraud of a speechifyer was going to be a terrible president.

    48 percent of us were not fooled by a never worked a day or served a day in his life coward who could read a speech that someone else wrote ONLY using his binkyprompter.

    July 1, 2010 10:44 am at 10:44 am |
  11. Susan

    Why would this higher unemployment number be unexpected? We are getting the exact results we should expect from the actions of this administration! Wiping out the middle class seems to be the plan.

    July 1, 2010 10:44 am at 10:44 am |
  12. seebofubar

    GOOD JOB OBAMA, you're cluless. How did we ever make the mistake of electing this bum?

    July 1, 2010 10:45 am at 10:45 am |
  13. Lynda/Minnesota

    Four million, six hundred and sixteen thousand families would like to thank GOP Senators for once again voting lockstep AGAINST unemployment benefit extensions.

    Four million, six hundred and sixteen thousand families would like to thank big business CEO's for using their unemployed status as a political maneuver to reinforce just how powerful (and corrupt) GOP lobbyists truly are.

    Four million, six hundred and sixteen thousand families - through no fault of their own - have been mocked, ridiculed, and looked upon with contempt by Republicans.

    A comment voiced many times past - worth repeating today:

    Jesus Wept.

    July 1, 2010 10:46 am at 10:46 am |
  14. Jerry

    All the bad news has been worst then expected since Obama got in office. Hope is not a plan folks.

    July 1, 2010 10:48 am at 10:48 am |
  15. Department of Talking Points

    Apparently not higher than the jobless expected.

    July 1, 2010 10:49 am at 10:49 am |
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