The number of people continuing to receive jobless benefits rose by 24,000 to 2.98 million in the week ended June 29. The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.
Those who’ve used up their traditional benefits and are now collecting emergency and extended payments decreased by about 22,700 to 1.65 million in the week ended June 22.
The unemployment rate among people eligible for benefits, which tends to track the jobless rate, held at 2.3 percent in the week ended June 29, today’s report showed.
States Breakdown
Thirty-three states and territories reported an increase in claims, while 20 reported a decline. These data are reported with a one-week lag.
Auto plants typically shut down to retool for the new model year, often playing havoc with the claims data in July.
“Claims could be in for a bumpy ride over the next couple weeks,” said Tom Simons, an economist at Jefferies LLC in New York. “Changes in production schedules in the auto sector could again cause some volatility in initial jobless claims, making the data difficult to interpret.”
Ford Motor Co. said it will idle most of its North American assembly plants for one week this summer instead of two, to increase output. Three of Chrysler Group LLC’s assembly plants and all except one of its engine, transmission and stamping factories will skip a summer shutdown this year. Since its 2009 bankruptcy, General Motors Co. hasn’t had a formal summer shutdown, Mark Reuss, president of the company’s North American operations, told reporters in May.
Auto Sales
GM and Ford, makers of the best-selling big pickups in the U.S., reported new-vehicle deliveries in June that topped estimates as the industry selling pace accelerated to the fastest in 67 months.