Unemployment Claims

June 25, 1993

New claims for unemployment insurance shot up last week to the highest level in almost two months, the government reported yesterday.

New claims, adjusted for seasonal variations, rose to 353,000 in the week that ended June 19, up 8,000 from the previous week.

In Maryland, which reports jobless data a week later, new claims rose to 3,977 in the week that ended June 12, up from 3,503 a week earlier. Maryland's numbers are not seasonally adjusted.

Economists differed yesterday on whether the national figures represented business as usual in the labor market or a stalling of the labor market's already weak recovery. The four-week average of new claims, a measure which smooths out weekly fluctuations, rose 3,750, to 347,000.

The Clinton administration used the jobless numbers to argue for passage of the president's economic package, contending it would keep interest rates low and bolster the economy. "The economy is not performing the way we would want it to," White House spokeswoman Dee Dee Myers said.

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