U.S. Unemployment Claims Increased to 558,000

Featured Advertiser (ForexDistrict) - Seasonally adjusted initial claims were 558,000 in the week ending August 8, recording an increase of 4,000 from the previous week's revised figure of 554,000, a report by the U.S. Department of Labor showed today. The four-week moving average, a better gauge of initial claims, estimated an increase of 8,500 to 565,000. Initial claims were lower than expectations for the second week of August as analysts had expected the number around the 548,000 range. A key component of the report edged lower, albeit remaining at record highs. During the week ending August 1 a decrease of 141,000 was reported with the figure falling near the 6.0 million mark at 6,202,000. The largest increases in initial claims for the week ending August 1 were in Alabama, Washington, Nebraska, Kentucky, and Delaware, while the largest decreases were in California, Michigan, Tennessee, Florida, and Georgia. By Manuel F. Ramirez. Edited by Juan P. Bejarano Related Stories: