Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Jobless claims higher than expected

By Aaron Smith, CNNMoney.com staff writer


NEW YORK (CNNMoney.com) -- Initial claims for unemployment insurance climbed last week, the government reported on Thursday.

The Labor Department's report showed that jobless claims jumped 12,000 in the week ended June 12, compared to the prior week's revised total of 460,000 claims.

Economists were expected initial jobless claims of 450,000 for the week ended June 12, according to Briefing.com consensus.

The report took the wind out of gains in the U.S. futures market.

The report was released one day after Senate Democrats revised a jobs bill, scaling back unemployment benefits and Medicare physician reimbursement measures. This revision would eliminate a $25 weekly supplement for the jobless that had been part of last year's stimulus act.

The cut will reduce the bill's cost by $5.8 billion over the next decade. To top of page

Index Last Change % Change
Dow 23,273.96 -54.67 -0.23%
Nasdaq 6,586.83 -42.23 -0.64%
S&P 500 2,564.98 -10.23 -0.40%
Treasuries 2.38 -0.00 -0.21%
Data as of 2:24am ET
Company Price Change % Change
General Electric Co 22.32 -1.51 -6.34%
Bank of America Corp... 27.16 -0.01 -0.04%
Advanced Micro Devic... 14.10 0.29 2.10%
Seagate Technology P... 39.35 4.41 12.62%
AT&T Inc 35.25 -0.29 -0.82%
Data as of Oct 23
Sponsors

Sections

More than 5% of DACA recipients have started their own businesses since enrolling the program, according to a recent survey. More

Instead of raising money for the Red Cross or requesting help from the National Guard, dozens of grassroots operations have sprung up to help get aid and supplies to Puerto Rico any way they can. But it has not been easy. More

Becoming a flight attendant can mean traveling the world. But it's a tough gig to land. Delta is looking to hire 1,000 flight attendants to join its team. More