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
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