Thursday, May 1, 2008

Jobless claims surge

A larger-than-expected spike in Americans seeking unemployment insurance comes a day before the April unemployment rate is released.

The number of newly laid off workers filing claims for unemployment benefits soared last week.

The Labor Department reported Thursday that claims for unemployment benefits rose by 35,000 to 380,000. Private economists had expected claims would rise by a smaller 18,000.

But the four-week moving average of new jobless claims fell 6,500 from last week to 363,750.

Continued unemployment insurance claims from those already receiving benefits rose in the week ending April 19 to 3,019,000, up 74,000 from the previous week. The four-week moving average for continued claims rose by 16,750 to 2,979,000.

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