Jobless Claims Rise Again, Reaching Highest Level In Three Months

Claims for unemployment insurance by the newly jobless hit 428,000, the highest level since June 25, the Labor Department announced.

That figure is an increase of 11,000 from the previous week’s revised figure of 417,000. Economists had predicted a drop of 6,000. Weeks that include a holiday (as this one did) usually show a short-term decrease in claims, because there’s one less day for workers to file.

The four-week moving average, intended to smooth out short-term fluctuations, increased 4,000 to 419,500.

The number of people receiving continuing benefits fell by 25,000 the week ended Aug. 27. That includes nearly 40,000 fewer people receiving regular state benefit checks and 10,000 more receiving extended or emergency benefits. Overall, 7.1 million Americans were receiving some form of unemployment.

Publish date: September 15, 2011 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT