Quantcast

US jobless claims jump to January high

By Agence France-Presse
Thursday, April 28, 2011 9:54 EDT
google plus icon
 
  • Print Friendly and PDF
  • Email this page

WASHINGTON — New claims for US unemployment insurance benefits surged more than expected last week to the highest level since January, official data showed Thursday.

The Labor Department reported initial jobless claims rose to a seasonally adjusted 429,000 in the week ending April 23.

That was sharply higher than the average analyst estimate of 390,000.

The Labor Department revised slightly upward the prior week’s claims number to 404,000.

The department gave no explanation for the unexpected rise in the weekly indicator on the jobs market.

The four-week moving average, which helps to smooth volatility, was 408,500 claims, an increase of 9,250 from the prior week. The average had been below the 400,000 threshold for eight consecutive weeks.

The US unemployment rate fell to 8.8 percent in March, its lowest level in two years, as the economy struggles to recover from recession.

Agence France-Presse
Agence France-Presse
AFP journalists cover wars, conflicts, politics, science, health, the environment, technology, fashion, entertainment, the offbeat, sports and a whole lot more in text, photographs, video, graphics and online.
 
 
 
 
By commenting, you agree to our terms of service
and to abide by our commenting policy.
 
Google+