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U.S. initial jobless claims rally, signaling sluggish market
Last Updated(Beijing Time):2012-06-15 08:11

The number of U.S. citizens initially applying for unemployment aid last week rallied after slumping a week earlier, signaling that the labor market recovery is still volatile, the U.S. Labor Department reported Thursday.

The advance figure for seasonally adjusted initial claims for jobless benefits was 386,000 in the week ending June 9, marking an increase of 6,000 from the previous week's revised figure.

The number of jobless claims has to stay below 375,000 to indicate a sustained drop in the unemployment rate.

Meanwhile, the four-week moving average, which helps smooth out week-to-week volatility, increased to 382,000. This is the highest level in six weeks.

Economists point out that the volatility of applications suggests that the U.S. labor market recovery is still fragile and the job growth needs to be accelerated.

In the past three months, employers added an average of only 96,000 jobs per month, far less than an average of over 250,000 in the previous three months.

The advance figure for seasonally adjusted insured unemployment during the week ending June 2 was 3.278 million, down 33,000 from the prior week.

U.S. economic growth slowed to an annualized pace of 1.9 percent in the first quarter of the year, down from the initial estimate of 2.2 percent.

Source:Xinhua 
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