POSTED: Thursday, July 19, 2012 - 12:37pm
UPDATED: Wednesday, July 25, 2012 - 8:39pm
Initial jobless claims rose sharply last week after falling to a four-year low earlier this month.
The Bureau of Labor Statistics says about 386 thousand people filed for first-time unemployment benefits in the week ended July 14th. That's up 34 thousand from the previous week. The weekly claims figure is considered an important gauge of the job market because it's correlated with layoffs.