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Thursday, January 13, 2011

Latest report by Labor Dept.: jobless claims higher than expected

The number of Americans filing for their first week of unemployment benefits jumped sharply last week, two weeks after hitting a 2-1/2 year low below 400,000.

There were 445,000 initial jobless claims filed in the week ended Jan. 8, up 35,000 from a revised 410,000 the previous week, the Labor Department said in a weekly report Thursday.

The figure was higher than expected. Economists surveyed by had forecast initial claims to edge up to 415,000 in the latest report. (Continues here at CNN)

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