Fewer than expected file for unemployment

The number of Americans filing initial unemployment claims fell sharply last week, while those filing ongoing claims rose to another all-time high, according to government data released Thursday.

There were 565,000 initial jobless claims filed in the week ended July 4, down 52,000 from a revised 617,000 the previous week, the Labor Department said.

It was the lowest number since January and was below the consensus estimate of 603,000 from economists surveyed by Briefing.com.

Analysts said last week's drop was distorted by a change in the pattern of seasonal layoffs in the automotive industry.

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- Posted: 2009-07-09 10:47:24

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