Continuing jobless claims rise more than expected
Comments 
0
By CHRISTOPHER S. RUGABER
Published: January 7, 2009
Modified: January 8, 2009 at 8:25 am
Modified: January 8, 2009 at 8:25 am
WASHINGTON (AP) — New claims for unemployment benefits dropped unexpectedly last week, but the number of people continuing to seek aid rose sharply.
The Labor Department says initial applications for unemployment insurance dropped by 24,000 to a seasonally adjusted 467,000 for the week ending Jan. 3. Wall Street economists expected initial claims to increase to 540,000. The figure partly reflects seasonal volatility that occurs around the New Year's holiday.
Still, the number of people continuing to claim jobless benefits jumped unexpectedly by 101,000 to 4.61 million. That was above analysts' expectations of 4.5 million and the highest level since November 1982.
Related Topics:
Culture and Lifestyle, Business, Economic Indicators, Holidays, Jobs and Labor, Labor Market, Unemployment Rate
Prev
Something to say about this topic? Submit a Letter to the Editor online
Thank you for joining our conversations on newsok. We encourage your discussions but ask that you stay within the bounds of our terms and conditions. Please help us by reporting comments that violate these guidelines. To review our rules of engagement, go to Commenting and posting policy.
Log in below or sign up (it's free).