Jobless Claims in US Increased by 109,000

Weekly jobless claims in the United States increased by 109,000 as data released by the US Department of Labor on Thursday revealed 1,416,000 initial claims for unemployment benefits in the United States during the week ending July 17.

That reading came after last week’s reading of 1,307,000 and worse than the market’s expectations of 1,300,000.

The advance seasonally adjusted insured unemployment rate was 11.1% for the week ending July 11, a decrease of 0.7 percentage point from the previous week’s revised rate.