BUSINESS BRIEFING
Times Wire Reports
The number of newly laid-off workers filing first-time claims for jobless benefits rose last week, the government said, although the increase was mostly because of seasonal distortions.
The number of people remaining on the jobless benefit rolls, meanwhile, fell to 6.2 million from 6.25 million, the lowest level since mid-April.
The Labor Department said new claims increased by 25,000 to a seasonally adjusted 584,000. That’s above analysts’ estimates of 570,000.
The unemployment rate is expected to surpass 10% by year’s end.
