The number of U.S. workers filing new applications for unemployment insurance unexpectedly rose last week for the first time since early April, government data showed on Thursday, dealing a blow to the labor market recovery.
Initial claims for state unemployment benefits increased 25,000 to a seasonally adjusted 471,000 in the week ended May 15, the highest level since the week ended April 10, the Labor Department said.
Analysts polled by Reuters had expected claims to fall to 440,000 from the previously reported 444,000, which was revised marginally up to 446,000 in Thursday's report.
Thursday, May 20, 2010
But I'm still happy cuz Obama is "focused like a laser on jobs".
Posted by traderrob at 5:42 AM