New claims for job­less aid rise; U.S. job rate re­port is due to­day

Austin American-Statesman - - BUSINESS AND PERSONAL FINANCE -

Ini­tial claims for un­em­ploy­ment ben­e­fits rose last week for the sec­ond time in three weeks. New claims for ben­e­fits jumped by 13,000 to a sea­son­ally ad­justed 472,000, the La­bor Depart­ment re­ported. The four-week av­er­age, which smooths fluc­tu­a­tions, rose to 466,500, its high­est level since March.

The govern­ment’s June jobs re­port to­day is ex­pected to show a mod­est re­bound in pri­vate hir­ing: 112,000 jobs, ac­cord­ing to a sur­vey of econ­o­mists by Thom­son Reuters, with the un­em­ploy­ment rate ex­pected to edge up from 9.7 per­cent to 9.8 per­cent. Adding 112,000 jobs would be an im­prove­ment from May, when busi­nesses added only 41,000. But the econ­omy needs to gen­er­ate at least 100,000 new jobs a month just to keep up with pop­u­la­tion growth, and prob­a­bly twice that num­ber to bring down the job­less rate.

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