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U.S. Jobless Claims Climb By 8,000 The number of Americans filing for benefits continued rising last week, while continued claims for unemployment benefits was the highest in 18 years.
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Morley continued claiming for the £800-a-month mortgage interest on his constituency home for more than 18 months after the loan had been repaid, the paper says.
Weekly jobless claims fell, but continuing claims for unemployment insurance topped 6 million.
Continuing claims for unemployment insurance rose to 6.8 million for the week of June 27, up 159,000 from a week earlier.
Also on Thursday, the Labor Department reported that initial jobless claims rose 27,000 to a seasonally adjusted 640,000, and that continuing claims for unemployment insurance rose to 6.1 million for the week ending April 11, from 6 million a week earlier.
May 1, 2014 Bloomberg News (@BloombergNews) UPDATE: U.S. jobless claims unexpectedly climb to nine-week high: http://t.co/UZYPNR0YHl May 1, 2014 The number of continuing claims for unemployment benefit also rose, to 2.771m, from 2.674m.
The Moody's assessment, however, goes on to cite "reasons for concern that the August numbers could undershoot our forecast," including a rise in the four-week moving average of continuing claims for unemployment benefits, a weakening index of consumer confidence and a region-by-region Fed report (known as the beige book) that was "not upbeat about the health of the job market".
The number of continuing claims for jobless benefits also rose, to just over 4.6 million.
Continuing claims for unemployment benefits added 40,000, to 4.6 million for the week ending March 6, excluding the 5.7 million people receiving extended benefits.
One positive note in Thursday's report was that the number of continuing claims for jobless benefits fell by 131,000 to its lowest level since December 2008, under 4.6 million.
In this cycle, job losses have, so far, been "only" slightly over a million, while labor market conditions are severely worsening based on all forward-looking indicators such as initial and continuing claims for unemployment benefits.
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