Jobless Claims Rise More Than Expected to 445K
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The number of Americans filing for unemployment benefits rose last week to the highest level since October following a pullback in filings for the holidays.
The Labor Department reported on Thursday that initial jobless claims rose 35,000 rose 35,000 to 445,000. Economists had estimated that the number would rise more modestly to 410,000.
The four-week average, which flattens out some of the volatility, increased to 416,5000.
The Labor Department was quoted as saying that the first week of the year is historically the highest week for jobless claims, adding that the four-week average is more indicative of the current situation.
The Labor Department reported on Thursday that initial jobless claims rose 35,000 rose 35,000 to 445,000. Economists had estimated that the number would rise more modestly to 410,000.
The four-week average, which flattens out some of the volatility, increased to 416,5000.
The Labor Department was quoted as saying that the first week of the year is historically the highest week for jobless claims, adding that the four-week average is more indicative of the current situation.
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