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

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,066.64 -31.81 -0.19%
Nasdaq 4,594.75 14.48 0.32%
S&P 500 2,001.57 -1.80 -0.09%
Treasuries 2.42 0.08 3.24%
Data as of 3:48pm ET
Company Price Change % Change
Bank of America Corp... 16.21 0.12 0.77%
Apple Inc 103.19 0.69 0.67%
Staples Inc 12.77 1.09 9.33%
Facebook Inc 76.47 1.65 2.21%
Intel Corp 34.51 -0.41 -1.17%
Data as of 3:33pm ET

Sections

Nike flexes its huge dollar advantage by signing Durant to a $300 million endorsement deal that trumps $285 million offer from Under Armour More

If approved by Los Angeles city council, the plan could raise wages for 567,000 workers by 2017. More

The latest celebrity photo hack shows your digital life doesn't end at your phone. If your stuff lives on "the cloud," you don't control the data. More

If approved by Los Angeles city council, the plan could raise wages for 567,000 workers by 2017. More

A scam where fraudsters impersonate IRS agents has now stolen $5 million from taxpayers, and this woman - who lost her entire life savings -- is just one of its victims. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.