USA private hiring slows in June, weekly jobless claims rise

The Labor Department said there were 248,000 seasonally adjusted initial claims in the week ending on Saturday, which is an increase of 4,000 from the previous week.

The previous week's reading was unrevised at 244,000.

The four-week moving average increased to 243,000 from 242,250 previously.

Secondary unemployment claims, those which are not filed for the first time and referencing the prior week, increased by 11,000 to 1.956m.

As per the ADP National Employment Report, which was showed on Thursday, the private sector payrolls last month have raised by 158,000 jobs that have stepped down from the 230,000 positions that were made space in the month of May.

New applications for benefits have been under 300,000 for 122 straight weeks, the longest run since the early 1970s. Economists surveyed by The Wall Street Journal forecast that the unemployment rate last month matched May's 4.3%, while predicting nonfarm employers added 174,000 jobs. Even before the annual summer plant closures, automakers have been laying off workers in response to the softening demand.

That is the longest such stretch since 1970, when the labor market was smaller. Initial claims count people who apply for benefits after losing their jobs. Data on continuing claims are released with a one-week lag.

Automakers normally shut assembly plants for annual retooling at the start of July, which tends to push up claims.

The four-week moving average of continuing claims rose 6,750 to 1.94 million, remaining below the 2 million mark for 10 consecutive weeks.