New jobless claims rise unexpectedly to 576,000
Published: August 20, 2009
WASHINGTON — The number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly for the second straight week, an indication that jobs remain scarce.
The Labor Department says the number of first-time jobless claims rose to a seasonally adjusted 576,000 last week, from a revised figure of 561,000. Wall Street economists expected a drop to 550,000, according to a survey by Thomson Reuters.
The number of people remaining on the benefit rolls dropped by 2,000 to 6.24 million. Analysts had expected a slight decline.
The four-week average of initial claims, which smooths out fluctuations, also rose for the second straight week to 570,000.
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Unexpected? Sure, if you’re suffering from a cranial-rectal inversion.
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