Initial claims for regular state unemployment benefits rose 42,000 to a seasonally adjusted 445,000 for the week ended July 7, the Labor Department said today.
This is the highest level of claims since the week ended July 25, 1992. The agency also revised its previous weekly figure to 403,000 from an earlier estimate of 399,000.
The US auto industry traditionally lays off workers temporarily at this time of the year to retool its production lines, and initial Labor Department data indicates that many of the layoffs occurred in states with an auto industry presence.
The four-week moving average for initial jobless claims rose 2,500 to 410,750.
