Thursday, February 17, 2011

Initial Jobless Claims Higher Than Expected

410,000 people filed for unemployment benefits during the week of February 12th. That's an uptick from the prior week's 383,000 filings, which was the lowest level in 2.5 years. Economists were spot-on in their projection of the latest claim number. Analysts attribute the latest rise to winter weather, which delayed the filing and processing of many claims.

The U.S. unemployment rate stands at 9.8%.