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Jobless claims rise to 439,000
New weekly claims for unemployment benefits rise unexpectedly, continuing claims at 20-year high.
July 10, 2003: 9:07 AM EDT

NEW YORK (CNN/Money) - The number of Americans filing for unemployment benefits for the first time rose unexpectedly last week as the level of U.S. workers receiving benefits for a week or more hit its highest level in more than 20 years, the government said Thursday.

The Labor Department said the number of Americans filing new claims for unemployment benefits rose to 439,000 in the week ended July 5, from 434,000 the prior week.

Economists, on average, expected 420,000 new claims, according to Briefing.com. A level above 400,000 indicates a stagnant labor market.

Continued claims, the number of people out of work for a week or more, climbed to 3.81 million for the week ended June 28 from a revised 3.73 million the prior week. Last week's figures are the highest since it hit 3.87 million in Feb. 26, 1983.

The four-week moving average of new claims, which smoothes out the weekly fluctuations, rose slightly to 426,750 from 425,750 the prior week.  Top of page




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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.