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Jobless claims rise by largest amount in 3 months

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AFP
Thursday, May 20, 2010

New claims for US unemployment benefits have risen for the first time in five weeks, official data showed Thursday.

The Labor Department said initial jobless claims totaled 471,000 in the week ending May 15, up 25,000 or 5.6 percent from the prior week’s revised figure of 446,000.

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The figure was higher than the average analyst forecast of a drop to 439,000 new claims.

“Although no one expects this volatile series to go in one direction every single week, this is clearly a disappointment,” Jennifer Lee, senior economist at BMO Capital Markets, tells the Associated Press.

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This article was posted: Thursday, May 20, 2010 at 8:19 am





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