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Jobless Claims in U.S. Rise as Auto Plant Layoff Effects Ease

Bloomberg (07/19/12) Alex Kowalski

More U.S. workers than anticipated filed first-time unemployment claims last week as the volatility sparked by the yearly auto-plant retooling period wore off. Applications for unemployment benefits rose by 34,000 to 386,000 in the week ended July 14, according to the U.S. Department of Labor. Economists had predicted 365,000 claims. The less-volatile four-week moving average declined to 375,500 from 377,000.