Well, here’s some surprising news for a Thursday morning. Initial jobless claims rose more than expected. That’s not something we hear very often.
The number of people who filed for unemployment assistance in the U.S. rose more-than-expected last week, after hitting the lowest level since October 2007 in the preceding week, official data showed on Thursday.
In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending August 17 rose by 13,000 to a seasonally adjusted 336,000.
Jobless claims for the preceding week were revised up to a gain of 323,000, from a previously reported 320,000.
Analysts had expected U.S. jobless claims to rise by 7,000 to 330,000 last week. (Read More)
This is some recovery we’ve got going. It just goes on and on.
Oh well, maybe this news will be good for the stock market.