U.S. initial jobless claims rose by 9,000 to a seasonally adjusted 197,000 in
the week ending July 25, below economists' forecast of 200,000, the U.S. Labor
Department said Thursday. The increase partly offset the prior week's fall to
the lowest level since 1969; July claims are often volatile because automakers
schedule annual plant shutdowns—this year GM kept most assembly lines running
and Ford traditional canceled summer stoppages, which may have distorted
seasonal-adjustment models. Economists said the U.S. labor market remains in a
"slowing hires, slowing layoffs" state.
