Jobless claims up more than forecasted
Initial jobless claims rose more than expected last week suggesting the pace of the recent improvement in the jobs market was easing. The number of Americans seeking jobless benefits rose to its highest since January 28th, the Labor Department said. Today’s data highlights Fed Chairman Bernanke’s recent concerns over the ability of the labor market to sustain its recent pace of growth.
Weekly jobless claims jumped by 13’000 to 380’000, from a revised 367’000 (previously 357’000) versus consensus for 355’000. Continuing jobless claims fell to 3.251 mln from a revised 3.349 mln (previously 3.338 mln) against a forecast for 3.335 mln.
In other data published on Thursday, the US trade balance deficit was lower to $46 bln from a $52.5 bln deficit versus expectations for $51.8 bln.
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