US Jobless Claims Jump 29K to 429K, Largest Reading Since Jan.
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The number of US citizens initially filing for jobless benefits rose unexpectedly last week, a development which suggests the sluggish recovery in the jobs market may take an even slower turn moving forward.
Data from the Labor Department showed new applications for unemployment jumped 25,000 to 429,000 during the week ended April 23rd, the largest weekly reading since late-January.
Economists had been expecting initial jobless claims of 395,000, what would have been a 9,000 job decline from an upwardly revised reading of 404,000 for the prior week.
Continuing jobless claims for the week ended April 16th fell modestly from 3.709 million to 3.641 million. The Street was looking for a reading of 3.68 million.
Data from the Labor Department showed new applications for unemployment jumped 25,000 to 429,000 during the week ended April 23rd, the largest weekly reading since late-January.
Economists had been expecting initial jobless claims of 395,000, what would have been a 9,000 job decline from an upwardly revised reading of 404,000 for the prior week.
Continuing jobless claims for the week ended April 16th fell modestly from 3.709 million to 3.641 million. The Street was looking for a reading of 3.68 million.
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