Thursday, February 4, 2010

Rising weekly jobless claims highlight weak labor market

Weekly initial jobless claims increased by an unexpected 8,000 to 480,000 in the latest week, while the 4-week moving average jumped 11,750 to 468,750.

Continuing claims were nearly unchanged at 4.6 million and though down over 2 million from the peak last year, much of the decline is simply the result of the expiration of the standard six months in benefits.

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Details on Examiner.com.

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