US jobless claims rise to highest since January


Reuters
Thursday, April 12, 2012

The number of Americans filing for unemployment benefits rose to the highest level since January last week, casting doubt over the strength of the recovery in the jobs market.

Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 380,000 people, the Labour Department said today, defying economists’ expectations for a drop to 355,000.

The four-week moving average for new claims, considered a better measure of labor market trends, also rose, climbing 4,250 to 368,500.

Some economists blamed the Easter holidays for the spike in claims and expected applications to trend lower in coming weeks.

Full story here.


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