U.S. initial jobless claims up 7,000 to 319,000

[NNN0LHI]

http://futures.fxstreet.com/Futures/news/afx/singleNew.asp?menu=latestnews&pv_noticia=1120740345-e04f0f08-30624

WASHINGTON (AFX) - First-time claims for state unemployment benefits rose by 7,000 to 319,000 last week, the Labor Department said Thursday. The gain was in line with expectations on Wall Street. A "significant" portion of the gain was due to annual auto-plant retooling and to schools closing for the summer, a Labor Department spokesman said. The four-week moving average of new claims fell by 3,500 to 320,000, the lowest in four months. The number of laid-off workers collecting state unemployment checks fell by 16,000 in the week ending June 25 to 2.581 million, the lowest in six weeks

[jojo54]

1. It's just a damn shame that what is never reported is

the amount of unemployed that no longer collect benefits and STILL don't have a job or at least, a good paying job or a full time job.

[papau]

2. Friday's number will be interesting - the 200,000 est of last week is now

150,000 to 175,000 per the talking heads.

Given the pretend "birth/death" job addin, I'd bet on 225,000 as Bush needs some positive PR.

[Toucano]

3. Wait a minute.

When schools close for the summer, people file for unemployment?

I haven't heard that before.

[Roland99]

4. Well, unemployment is now DOWN to 5.0%

Welcome to Bizarro world