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Jobless claims soar 13,000
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June 18, 1998: 9:10 a.m. ET
Bigger-than-expected increase reflects figures from GM strike
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NEW YORK (CNNfn) - The number of U.S. workers seeking first-time unemployment benefits climbed higher than expected in the week ended June 13, the Labor Department said Thursday.
Initial jobless claims rose 13,000 to 327,000 from a revised figure of 314,000 the previous week. The numbers are the first to reflect some General Motors Corp. strike-related filings.
Economists had forecast a much smaller increase of 4,000.
The continuing four-week average figure for initial claims jumped to 322,000, an increase of 3,250 from the previous week's revised average of 318,750.
The seasonally adjusted insured employment rate for the week ending June 6 held steady at 1.8 percent.
Continuing claims fell to 2,121,000 from 2,129,000.
Shortly after the figures were released, the key 30-year Treasury bond was up 4/32 at 105-19/32, dropping the yield to 5.73 percent. 
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