Jobless Claims Spike Dramatically
The number of people applying for unemployment benefits for the first time jumped by 46,000 last week to 388,000, the highest in four months, the U.S. Labor Department reported on Thursday. Economists had forecast the figure to be 365,000.
The increase in initial jobless claims suggest that layoffs are increasing, but the Labor Department said that there were technical reasons behind the rise, such as delayed figures from California, the AP reported.
Many analysts had expected some kind of compensation after last week’s number plunged to 339,000.