Jobless Claims in U.S. Rose Last Week to Two-Month High: Economy |
| San Francisco Chronicle - Apr 12, 2012 |
More Americans than forecast filed applications for jobless benefits last week, reinforcing concern among Federal Reserve policy makers that the labor-market recovery will be slow to develop.
Unemployment claims increased 13,000 in the week ended April 7 to 380,000, the highest since Jan. 28, the Labor Department reported today in Washington. The median forecast in a Bloomberg News survey called for 355,000 claims. Other reports showed consumer confidence held near a four-year high and the trade gap narrowed more than projected.
The claims data, coming on the heels of last week's weaker- than-forecast payroll number, raise the possibility that the job gains that drove unemployment down to a three-year low last month will moderate. Fed Vice Chairman Janet Yellen and Fed Bank of New York President William C. Dudley said over the past 24 hours that they support keeping the central bank's main interest rate low through late 2014 to help reduce joblessness.
Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/04/12/bloomberg_articlesM2D9E01A1I8001-M2DHT.DTL#ixzz1rqPtUk4i
Read Full Article from San Francisco Chronicle
- Posted: 2012-04-12 11:17:10
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