Tags: US | Jobless | Claims

Jobless Claims Rise Unexpectedly

Thursday, 18 Feb 2010 08:59 AM

 

The number of newly laid-off workers filing applications for unemployment benefits unexpectedly surged last week after having fallen sharply in the previous week. The gain dampened hopes about how quickly the labor market may improve this year.

The Labor Department said Thursday that first-time claims for unemployment benefits rose by 31,000 to a seasonally adjusted 473,000.

The increase followed a drop of 41,000 in the previous week which had raised hopes that the labor market, which has lost 8.4 million jobs since the recession began in December 2007, could be improving.

Thursday's news deflated analysts' hopes that new claims would continue to decline. Economists surveyed by Thomson Reuters had expected new claims to fall modestly.

Still, the four-week average for claims did decline by 1,500 to 467,500, near the lows that were reached at the end of last year. The average is considered a more stable indicator because it smooths out the week-to-week volatility.

Claims at the beginning of this year had been affected by a holiday backlog. The easing of the backlog had elevated the numbers for the previous three weeks.

That temporary boost appears to have worn off.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

House Committee Slams VA for Not Releasing Health Data

Wednesday, 28 Jan 2015 22:56 PM

The Department of Veterans Affairs came under fire Wednesday for holding back information crucial to overseeing its aili . . .

Mike Huckabee: Misquote on 'Trashy Women' Was No Mistake

Wednesday, 28 Jan 2015 22:51 PM

Former Fox News host Mike Huckabee says it was no mistake when the website Politico reported that he said the women of F . . .

Senate Health Panel Leaving Out Obamacare Opponents

Wednesday, 28 Jan 2015 22:21 PM

With the Senate Health, Education, Labor and Pensions Committee (HELP) scheduled to hold hearings Thursday morning on wh . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved