Initial Claims Up 24,000
WASHINGTON (TheStreet) -- The number of people applying for state unemployment benefits for the first time rose last week, continuing a recent upward trend.
Initial jobless claims rose by 24,000 to a seasonally adjusted 484,000 for the week ending April 10, the government said Thursday. The tally comes as a disappointment to most Wall Street analysts who were expecting initial claims to decline to 440,000, according to consensus figures provided by Briefing.com.
Last Thursday, a separate Labor Department report showed initial claims rose by 18,000.
This week's report showed the moving average of new jobless claims over the past month also rose higher, jumping by 7,500 to 457,750.Meanwhile, the number of those continuing on jobless benefit rolls also climbed to 4.639 million for the week ended April 3 from 4.566 million the week prior. --Written by Sung Moss in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV