Jobless Claims Increase
The number of U.S. workers filing applications for jobless benefits rose last week, continuing an uneven pattern that suggests job creation was likely modest in July.
Initial jobless claims, an indication of layoffs, increased by 8,000 to a seasonally adjusted 365,000 in the week ended July 28, the Labor Department said Thursday. Economists surveyed by Dow Jones Newswires had forecast 370,000 new applications for jobless benefits last week.
Claims for the July 21 week were revised up to 357,000 from an initially reported 353,000.
Policy makers at the Federal Reserve said Wednesday that the economy has decelerated and growth in employment has been slow in recent months.
The central bank's leaders took no new action following this week's meeting, but said they will "monitor incoming information...and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions."
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