Economic Report: Jobless claims rise after hitting 48-year low

Luke Sharrett/Bloomberg
A “Now Hiring!” sign stands on display next to the Jiffy Lube International Inc. booth at a job fair.

The numbers: Initial jobless claims climbed by 9,000 to 217,000 in the week ended July 21, one week after hitting a 48-year low. The gain in claims was below the 219,000 estimate of economists polled by MarketWatch. Claims are at their highest level since June.

The more stable monthly average of claims, meanwhile, fell by 2,750 to 218,000, the government said Thursday.

The number of people already collecting unemployment benefits, known as continuing claims, fell by 8,000 to 1.75 million.

What happened: Claims often bounce up and down during the summer, but the broader picture is unchanged.

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