MNI DATA ANALYSIS: US Jobless Claims Rose 3,000 In June 30 Wk>

--Initial Claims Four-Week Average Up 2,250 To 224,500

By Sara Haire, Harrison Clarke, and Shikha Dave

     WASHINGTON (MNI) - Initial claims U.S. state unemployment benefits 

rose by 3,000 to 231,000 in the June 30 week, above the 224,000 level 

expected by analysts in an MNI survey following an a slight upward 

revision to claims in the previous week, data released by the Labor 

Department Thursday showed. 

     A better measure for the underlying trend of the data is the 

four-week moving average for initial claims. The average rose by 2,250 

to 224,500 in the June 30 week. 

     If the number of headline claims does not change next week and 

there are no revisions to data from the past four weeks, the four-week 

average would rise by 2,500 as the 221,000 level in the June 9 week 

rolls out of the calculation, still keeping the average below its year 

ago level. 

     Seasonal adjustment factors had expected a decrease of 2.1%, or 

4,778 in unadjusted claims. Unadjusted claims however, actually saw an 

increase of 3.7%, or 8,306 to 231,072. The current week's level was well 

below the 252,886 level in the comparable week a year ago. 

--CONTINUING CLAIMS ROSE, 4-WK AVERAGE DECLINES

     The level of continuing claims rose by 32,000 to 1.739 million in 

the June 23 week. Before seasonal adjustment, continuing claims rose by 

57,195 to 1.643 million, still remaining below the 1.867 million level 

seen in the comparable week last year. 

     The four-week average for continuing claims, which tends to be a  

more reliable measure as the continuing claims consistently fluctuate 

week-to-week, fell by 1,750 to 1.718 million, making it again the lowest 

point since the December 8, 1973 week. 

     The seasonally adjusted insured unemployment rate stayed at 1.2% in 

the June 23 week, down from the 1.4% in the same week a year earlier, 

reinforcing that the level of insured unemployment is particularly low. 

This is the eighth week in a row that it has remained at this level.  

     Claims were estimated for Maine only. 

     The unemployment rate among the insured labor force is well below 

that reported monthly by the Labor Department because claims are 

approved for the most part only for job losers, not the job leavers and 

labor force reentrants included in the monthly report. 

     ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]