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Initial Jobless Claims in U.S. Unexpectedly Increase

Posted By admin On December 17, 2009 @ 11:23 am In Money Watch | Comments Disabled

Timothy R. Homan
Bloomberg News [1]
Thursday, December 17, 2009

Dec. 17 (Bloomberg) — More Americans than anticipated filed first-time claims for unemployment benefits last week, a reminder that the labor market will take time to strengthen and may weigh on the economic recovery.

Initial jobless claims rose by 7,000 to 480,000 in the week ended Dec. 12, from a revised 473,000 the prior week, Labor Department figures showed today in Washington. The number of people receiving unemployment insurance was little changed in the prior week, while those getting extended payments increased.

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Initial Jobless Claims in U.S. Unexpectedly Increase  251109banner [2]

Federal Reserve policy makers yesterday said weakness in the labor market is restraining consumer spending, which accounts for about 70 percent of the world’s largest economy. Concerns over the lack of jobs prompted the central bank yesterday to reiterate a pledge to keep the benchmark interest rate low for an “extended period.”

“The level of new claims remains elevated,” said Steven Wood, president of Insight Economics LLC in Danville, California. “The labor market is improving, but remains soft.”

Full story here. [1]


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[1] Bloomberg News: http://www.bloomberg.com/apps/news?pid=20601103&sid=aBMXN4DFRge4

[2] Image: http://www.efoodsdirect.com/holidaySpecial.html?aid=14&adid=14

[3] Jobless Claims in U.S. Unexpectedly Rose Last Week: http://www.prisonplanet.com/jobless-claims-in-u-s-unexpectedly-rose-last-week.html

[4] Jobless claims jump unexpectedly: http://www.prisonplanet.com/jobless-claims-jump-unexpectedly.html

[5] Jobless Claims in U.S. Rose 8,000 Last Week to 362,000: http://www.prisonplanet.com/jobless-claims-in-u-s-rose-8000-last-week-to-362000.html

[6] Jobless Claims in U.S. Rise More Than Expected: http://www.prisonplanet.com/jobless-claims-in-u-s-rise-more-than-expected.html

[7] US jobless claims rise to highest since January: http://www.prisonplanet.com/us-jobless-claims-rise-to-highest-since-january.html

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