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Jobless claims up more than expected

by cgillum last modified 2008-04-17 10:27

Weekly data portend more pressure from weak economy

WASHINGTON - The number of newly laid off workers filing claims for unemployment benefits increased by more than expected last week after a big decline in the previous week.

The Labor Department said Thursday that applications for unemployment benefits rose to 372,000, an increase of 17,000 from the previous week.

The four-week average for claims was 376,000, down only slightly from 376,750, the previous week. Aside from the period in the fall of 2005 after Hurricane Katrina hit, the four-week average for claims has risen to levels last seen in 2003 when the country was mired in a long jobless recovery after the 2001 recession.

The unemployment rate jumped to 5.1 percent in March as businesses cut 80,000 jobs, the biggest drop in payrolls in five years. Many economists believe that was the most dramatic indication to date that the country has fallen into a recession.


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