(RTTNews) - With the more closely watched monthly jobs report looming, the Labor Department released a report on Wednesday showing a modest increase by first-time claims for U.S. unemployment benefits in the week ended June 29th.
The report said initial jobless claims rose to 238,000, an increase of 4,000 from the previous week's revised level of 234,000.
Economists had expected jobless claims to inch up to 235,000 from the 233,000 originally reported for the previous week.
The Labor Department said the less volatile four-week moving average also crept up to 238,500, an increase of 2,250 from the previous week's revised average of 236,250.
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