From Raw Story: http://www.rawstory.com/rs/2011/02/17/jobless-claims-rise-25000-last-week/
By Reuters
Thursday, February 17th, 2011
WASHINGTON (Reuters) – New U.S. claims for unemployment benefits rose more than expected last week, according to a government report on Thursday that still pointed at gradual labor market recovery.
Initial claims for state unemployment benefits increased 25,000 to a seasonally adjusted 410,000, the Labor Department said, partially reversing the prior week’s hefty decline.
Economists polled by Reuters had forecast claims rising to 400,000. The previous week’s figure was revised slightly up to 385,000, from the previously reported 383,000.
The claims data covers the survey period for part of the government’s employment report for February. But the correlation between claims and nonfarm payrolls has weakened somewhat. Claims have been hovering above the 400,000 mark, a sustained breach of which is regarded by economists as signaling strong jobs growth.
A Labor Department official said there was nothing unusual in the state-level data, adding that two states had been estimated.
Continue reading at: http://www.rawstory.com/rs/2011/02/17/jobless-claims-rise-25000-last-week/
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