Jobless claims jump by 16000

The U.S. Labor Department said first-time jobless benefits claims increased by 16,000 to 360,000, in the week that ended Saturday. The prior week's total for first time claims was revised from 343,000 to 344,000. This set the four-week rolling average at 351,750, an increase of 6,000 from the previous week. The largest increases in initial claims for the week ending June 29 were in New Jersey, which gained 6,068, New York which added 2,824 and Connecticut with a gain of 2,802. The largest decreases were in California, down by 9,323, Florida, down by 3,245 and Pennsylvania with a drop of 2,628.