U.S. unemployment claims increased for the seven days ending July 26, according to the Department of Labor. The jobless claims increase follows a 14-year low.

The Labor Department revealed the initial jobless claims numbers climbed by 23,000. As a result, the Labor Department's jobless claims reached 302,000 for the week ending July 26.

"There were no special factors impacting this week's initial claims," the department noted.

According to MarketWatch, the Department of Labor's statistics are "in line" with Wall Street's expectations.

The Labor Department previously reported jobless claims for the week ending July 19 were 284,000, which was the lowest point since May 2000. Thursday's update, however, saw a revision of 5,000 fewer claims. A probable reason for the latest jobless claims figure is the temporary shutdown by some manufacturing companies during the summer ahead of new production for fall.

Despite the increase in jobless claims last week, overall layoffs are at record lows, and job openings following the recession are at their highest rate in seven years. As Latin Post reported, more than 4.6 million job openings were available during May, an increase from 4.5 million during April. The Labor Department noted the last time so many employment opportunities were open was June 2007.

In regards to the average of jobless claims, the Labor Department noted it at 297,250, down 3,500 from June. The Labor Department recognized the jobless claim average fell below 300,000 for the first time since April 2006, when the unemployment rate stood at 5 percent.

The overall unemployment rate is 6.1 percent. Based on June's Department of Labor statistics, the Latino unemployment rate increased from 7.7 percent to 7.8 percent for June. Two million Latinos are listed as unemployed in June. Meanwhile, 23.4 million Latinos over the age of 16 are either employed or "temporarily absent" from the jobs. Overall, 25.4 million Latinos have been involved in the civilian labor force.

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For the latest updates, follow Latin Post's Michael Oleaga on Twitter: @EditorMikeO or contact via email: m.oleaga@latinpost.com.

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