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Thursday, December 10, 2009

New Jobless Claims Rise to 474,000 After Falling For 5 Straight Weeks

http://www.foxnews.com/politics/2009/12/10/new-jobless-claims-rise-falling-straight-weeks/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%253A+foxnews%252Fpolitics+%2528FOXNews.com+-+Politics%2529

The number of newly laid-off workers seeking jobless benefits rose more than expected last week, after falling for five straight weeks.

Despite the increase, claims have fallen steadily since this summer, a sign that job cuts are slowing and hiring could pick up as soon as early next year amid a broad economic recovery.
Initial claims for unemployment insurance rose by 17,000 to a seasonally adjusted 474,000, the Labor Department said Thursday. That was above analysts' expectations of 460,000 new claims.


Still, claims will have to fall to about 425,000 for several weeks to signal the economy is actually adding jobs, according to many economists.

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