For The Financial News Network you are watching FNNO.com. The Labor Department is back in our sights as the number of jobless claims rises, yet again. According to the agency, new claims rose to around 8,000 from last week for a total of 365,000. It’s no wonder–with reports of companies like UBS gradually laying off thousands of employees to make up for lost revenue. This doesn’t bode well for the expected added jobs numbers in the month of July. Analysts expect the unemployment rate to remain steady at 8.2% but only 95,000 jobs added in the month, a very low number for job growth. Investors surely are hoping tomorrow’s monthly jobs report from the Labor Department will will be higher than that number. For more up to date business news and other videos, find us online at FNNO.com or follow us on Twitter @FNNONLINE.
