U.S. weekly jobless claims rise; layoffs hit 16-month high in June

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Reuters

WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly rose last week and demand for labor is slowing, with layoffs surging to a 16-month high in June as aggressive monetary policy tightening from the Federal Reserve stokes recession fears. Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 235,000 for the week ended July 2, the Labor Department said on Thursday. Economists polled by Reuters had forecast 230,000 applications for the latest week. Claims have been bouncing around the 230,000 level since the beg…

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