Jobless Claims in U.S. Unexpectedly Rise to Three-Month High

[marmar]

(Bloomberg) New applications for unemployment benefits in the U.S. unexpectedly rose last week to the highest level in three months, a sign progress in the labor market may be stalling.

Jobless claims increased by 25,000 to 429,000 in the week ended April 23, the most since late January, Labor Department figures showed today in Washington. The government anticipates a drop in unadjusted applications during the Good Friday holiday week, something that didn’t happen this year, a Labor Department spokesman said.

The report also showed the number of people on unemployment benefit rolls and those receiving extended payments dropped, a sign the jobless rate may fall in coming months. Companies have been cautious about ramping up hiring until they see further signs the recovery is self-sustaining, one reason why Federal Reserve policy makers yesterday pledged to complete their asset- purchase plan by June and keep borrowing costs near zero.

“It’s clearly disappointing,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York. “It may be that the pace of improvement is slowing.” ............(more)

The complete piece is at: http://www.bloomberg.com/news/2011-04-28/jobless-claims-in-u-s-unexpectedly-rise-to-three-month-high.html

[mmonk]

1. Only unexpectedly to persons that adhere to certain ideologies.

[KittyWampus]

2. waiting for those McDonalds positions to kick in I guess.

[deacon]

3. The GOP is working hard at driving those numbers up. n/t

[OHdem10]

4. The States are laying off workers including Police, Firefighters

and Teachers just as fast as the Private Sector sluggishly
creates new jobs. It does not take a scientists or mathemetician
to figure this one.

As usual DC operates in their own bubble. The Republican Governors
especially are cutting right and left. Congressmen and Women from
these states ignore what is happening in their own states and
bring out the machettis for more layoffs.

[jwirr]

5. I suspect that the tourism jobs are not opening up as usual due to

gas prices.