5/16/13, "Jobless Claims in U.S. Jump to Highest Level in Six Weeks," Bloomberg, via SF Gate, Chandra and Kowalski
"Jobless
claims jumped by 32,000 to 360,000 in the week ended May 11, exceeding
all forecasts in a Bloomberg survey of economists and the most since the
end of March, Labor Department
figures showed today in Washington. A Labor Department spokesman said
no state provided information explaining the surge in applications which
was the biggest since the aftermath of superstorm Sandy in November....
“It’s a reflection of what’s happening in the economy,” Millan Mulraine, an economist for TD Securities USA
LLC in New York, said before the report. “Growth has slowed. We’re
likely to see the labor market going sideways until there’s an
improvement in demand.”
The median forecast of 50
economists surveyed by Bloomberg called for a rise to 330,000. Estimates
ranged from 315,000 to 355,000. The Labor Department revised the
previous week’s figure to 328,000 from an initially reported 323,000. The four-week moving average, a less volatile measure than the weekly figures, rose to 339,250 last week from 338,000....
The
number of people continuing to receive jobless benefits fell by 4,000
to 3.01 million in the week ended May 4, according to the report on
applications for jobless benefits. The continuing claims figure does
not include the number of Americans receiving extended benefits under
federal programs.
Those who’ve used up their
traditional benefits and are now collecting emergency and extended
payments increased by about 29,000 to 1.79 million in the week ended
April 27.
The unemployment rate among people eligible for benefits held at 2.3 percent in the week ended May 4, today’s report showed."...
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