Weekly Jobless Claims Unexpectedly Rise to 348K
The sad thing is how many jobs are out there. But people don’t want to work because they can get more from government. Disgusting.
Check it out:
The number of Americans filing new claims for unemployment benefits unexpectedly rose last week, but the underlying trend suggested no shift in labor market conditions.
Initial claims for state unemployment benefits increased 14,000 to a seasonally adjusted 348,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 2,000 fewer applications received than previously reported.
Economists polled by Reuters had forecast first-time applications for jobless benefits slipping to 335,000 in the week ended February 22, which included the Presidents Day holiday.
While last week’s increase pushed them to the upper end of their range so far this year, it probably does not signal labor market weakness as claims tend to be volatile around federal holidays.
The four-week moving average for new claims, considered a better measure of underlying labor market conditions as it irons out week-to-week volatility, was unchanged at 338,250.