Unemployment claims increased nationally last week
The number of people filing for initial unemployment benefits increased last week. However, the less volatile four-week average continued to decline.
Claims increased by 8,000, or 2 percent, according to a release.
The four-week average has dropped for the past six weeks and jobless claims increased at a slower rate than what economists surveyed by Bloomberg predicted.
The unemployment report comes a day after payroll provider ADP Payroll Services Inc. announced that it saw more jobs added in June than expected. Official unemployment statistics for July will be released tomorrow morning.
The Labor Department also said today that planned firings decreased significantly in July. Planned firings fell 44 percent compared to the same month last year, according to Bloomberg.
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