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 24,585.43 80.63 0.33%
Nasdaq 6,875.80 13.48 0.20%
S&P 500 2,662.85 -1.26 -0.05%
Treasuries 2.35 -0.05 -2.25%
Data as of 3:48am ET
Company Price Change % Change
Bank of America Corp... 28.84 -0.48 -1.64%
General Electric Co 17.76 -0.15 -0.84%
Advanced Micro Devic... 10.11 0.21 2.12%
AT&T Inc 38.04 -0.06 -0.16%
Ford Motor Co 12.63 0.03 0.24%
Data as of Dec 13
Sponsors

Sections

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

President Trump said Wednesday the Republican tax plan working its way through Congress will result in a 'giant tax cut' for the middle class. Here's the reality. More