Requests for unemployment benefits rise

The number of people who filed applications for unemployment benefits rose by 10,000 last week, keeping claims at a level typically associated with modest to below-average hiring trends.

The Labor Department said 424,000 people filed new applications for jobless benefits in the week ended May 21, compared to an upwardly revised 414,000 in the prior week. A government official said no special factors were involved.

Economists surveyed by MarketWatch had expected claims to decline to a seasonally adjusted 405,000.

The increase in jobless claims and a disappointing report on first-quarter U.S. growth sent stocks lower in recent trades.

Read Full Article from MarketWatch

- Posted: 2011-05-26 10:01:41

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