Thursday, August 20, 2009

These numbers are actually rising the last few weeks, not an indicator of economic health. The sad thing is that many who have been unemployed for a long time are now losing their benefits, then what?-Lou

U.S. jobless claims unexpectedly rise


WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits unexpectedly rose last week, a government report showed on Thursday, fanning worries of an anemic recovery from the worst recession in 70 years.

Initial claims for state unemployment insurance benefits rose 15,000 to a seasonally adjusted 576,000 in the week ended August 15 from 561,000 the prior week, the Labor Department said. Analysts polled by Reuters had forecast new claims slipping to 550,000 last week from a previously reported 558,000.

"I think that we're hoping for the numbers to stay below 600,000, and not until we get below 500,000 can we be more certain that there is an economic recovery," said Linda Duessel, market strategist at Federated Investors in Pittsburgh.


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