Jobless Claims Jump In Weekly Labor Numbers

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

unemployment-job-search-help-wantedNEW YORK (CNNMoney) — Initial jobless claims jumped higher than expected last week, breaking a series of weekly declines that had brought it to multi-year lows, the U.S. Labor Department reported Thursday.

Jobless claims surged by 32,000, totaling 360,000 in the week ended May 11.

That was much more than expected. A consensus of economists surveyed by Briefing.com had forecast 330,000 jobless claims for that week.

Last week, jobless claims fell to a five-year low.

The jobless claims number represents the tally of people filing for unemployment insurance for the first time. According to the latest monthly jobs report, 11.7 million people remained unemployed in April, with an unemployment rate of 7.5%.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.