New claims for jobless benefits rise sharply
By ALAN ZIBEL
AP Business Writer
WASHINGTON (AP) — The number of people filing new claims for jobless benefits
jumped unexpectedly last week after three straight declines, another sign that
hiring remains weak.
Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted
472,000, the Labor Department said Thursday. It was the highest level in a
month.
First-time claims have hovered near 450,000 since the beginning of the year
after falling steadily in the second half of 2009. That has raised concerns
that hiring is lackluster and could slow the recovery. Economists say they will
feel more optimistic that the economy is creating jobs once initial claims fall
below 425,000 per week.
The four-week average for unemployment claims, which smooths volatility, dipped
slightly to 463,500. That’s down by 3,750 from the start of January.