Friday, August 21, 2009

Unemployment claims worsen, rise 15,000

New jobless claims rise unexpectedly to 576K

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.


WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits unexpectedly rose last week, a government report showed on Thursday, as companies continued to cut payrolls amid uncertainty over the economic outlook.

Initial claims for state unemployment insurance benefits rose 15,000 to a seasonally adjusted 576,000 in the week ended August 15 from 561,000 the prior week, the Labor Department said.

Analysts polled by Reuters had forecast new claims slipping to 550,000 last week from a previously reported 558,000. A Labor Department official said there were no special factors influencing the report.

The number of people collecting long-term unemployment benefits edged up 2,000 to 6.24 million in the week ended August 8, the latest week for which the data is available. However, the four-week moving average declined 2,500 to 6.27 million.

The insured unemployment rate, which measures the percentage of the insured labor force who are jobless, was unchanged at 4.7 percent.

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