FOXNews.com – Jobless Claims Rise Unexpectedly to 480,000

FOXNews.com – Jobless Claims Rise Unexpectedly to 480,000

Jobless Claims Rise Unexpectedly to 480,000
AP
The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing and jobs remain scarce.

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WASHINGTON — The number of newly laid-off workers filing initial claims for jobless benefits rose unexpectedly last week, evidence that layoffs are continuing and jobs remain scarce.

The rise is the fourth in the past five weeks. Most economists hoped that claims would resume a downward trend that was evident in the fall and early winter.

The Labor Department says that new claims for unemployment insurance rose by 8,000 to a seasonally adjusted 480,000. Wall Street economists had expected a drop to 460,000.

The four-week average, which smooths fluctuations, rose for the third straight week.
The number of people continuing to claim benefits was unchanged at 4.6 million.

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