Unemployment claims highest since March
Written on July 8, 2008
The number of newly laid-off people signing up for unemployment insurance rose sharply last week.
The Labor Department, in a new report Thursday, says new applications jumped by 16,000 to 404,000, the highest level since late March.
The increase was bigger than economists were expecting. They were forecasting claims to rise to around 385,000 no fax payday advance.
A year ago, jobless claims stood at 322,000.
The four-week moving average of claims, which smoothes out weekly volatility, rose last week to 390,500, the highest since early October 2005.
Filed in: legal.