Thursday, June 23, 2011

Jobs Picture Grows Worse as Weekly Claims Post Jump

Good grief, how long is in going to take before these "unexpectedly rotten employment reports become expected.
New U.S. claims for unemployment benefits rose more than expected last week, a government report showed on Thursday, suggesting little improvement in the labor market this month after employment stumbled in May.

Initial claims for state unemployment benefits climbed 9,000 to a seasonally adjusted 429,000, the Labor Department said. The prior week's figure was revised up to 420,000.

Economists polled by Reuters had forecast claims to edge up to 415,000 from a previously reported count of 414,000.

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