Initial Claims Increase 9,000 as Hiring Managers Still Fearful
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Initial claims for the week ended August 13th rose by 9,000 to 408,000, the Department of Labor said Thursday, the sharpest gain in a month.
The Street was looking for a more modest rise to 400,000.
The prior week's reading was revised higher from an initial 395,000 to 399,000.
Americans continuing to receive jobless benefits increased 7,000 to 3.702 million. Those receiving extended benefits beyond the 99-week allotment fell 43,700 to 3.66 million at the end of July.
Economists were expecting a continuing claims reading of 3.7 million on the nose.
Continuing claims for the week ended July 30th were revised from 3.688 million to 3.695 million.
34 states and territories reported an increase in claims, while 18 reported a decline.
Numbers indicate businesses are still fearful of hiring. Recent economic data in the U.S. and Europe continues to weigh on concerns for growth outside of emerging markets.
The Street was looking for a more modest rise to 400,000.
The prior week's reading was revised higher from an initial 395,000 to 399,000.
Americans continuing to receive jobless benefits increased 7,000 to 3.702 million. Those receiving extended benefits beyond the 99-week allotment fell 43,700 to 3.66 million at the end of July.
Economists were expecting a continuing claims reading of 3.7 million on the nose.
Continuing claims for the week ended July 30th were revised from 3.688 million to 3.695 million.
34 states and territories reported an increase in claims, while 18 reported a decline.
Numbers indicate businesses are still fearful of hiring. Recent economic data in the U.S. and Europe continues to weigh on concerns for growth outside of emerging markets.
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