US jobless claims rose last week

The US Labor Department said that US jobless claims rose by 12,000 to a seasonally adjusted 248,000 for the week ending July 1, and the previous week's data was revised to show 3,000 fewer claims than previously reported.

Analysts had expected jobless claims to rise to 245,000 last week, and jobless claims rose to a 20-month high of about 265,000 in the first three weeks of June. Unadjusted jobless claims rose by 20,838 to 250,556 last week, and continuing claims fell by 13,000 to 1.720 million during the week ended June 24, its lowest level in four months.