US New Unemployment Claims at 362,000, Rising for 3rd Week... Growth Rate Revised Up to 6.7%
[Asia Economy Reporter Koo Chae-eun] Last week, the number of people newly filing for unemployment benefits in the United States increased for the third consecutive week. The U.S. economic growth rate for the second quarter was revised upward from the previous estimate.
The U.S. Department of Labor announced on the 30th (local time) that the number of new unemployment benefit claims for the week ending on the 25th increased by 11,000 to 362,000 (seasonally adjusted). This figure exceeded experts' expectations of 335,000. As a result, new unemployment benefit claims have risen for three consecutive weeks, marking the highest level in two months.
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The U.S. Department of Commerce reported that the gross domestic product (GDP) for the second quarter grew at an annual rate of 6.7% compared to the previous quarter. This is a slight upward revision from the 6.6% announced last month. The U.S. economy recorded a growth rate of 6.3% in the first quarter.
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