Weekly jobs claims drop by 14,000
July 5, 2012
First-time claims for unemployment insurance fell by 14,000 to a seasonally adjusted 374,000 during the week ended June 30 from the previous week’s revised figure, according to the latest numbers from the U.S. Department of Labor. The four-week moving average was 385,750, a decrease of 1,500 from the previous week’s revised average.
The weekly job claims report comes the same day as the latest monthly private-sector employment numbers from payroll processor ADP Employment. ADP estimates that the U.S. nonfarm private business sector increased by 176,000 from May to June on a seasonally adjusted basis, which is stronger than the revised 136,000 increase from April to May.
Both reports come a day before the closely watched employment situation report from the U.S. Bureau of Labor Statistics.
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