News Summary: US Jobless Claims Jump To 385,000
By The Associated Press
APPLICATIONS JUMP: The number of Americans seeking unemployment aid rose last week by 28,000 to a seasonally adjusted 385,000, the third straight increase. That's the highest level since late November.
TEMPORARY FACTORS: A Labor Department spokesman says the figures were partly affected by the Easter holiday. The holiday's timing varies from year to year, which makes it difficult to adjust for school closings and other seasonal factors that can alter the data.
SIGNS OF CAUTION: The recent increases suggest companies may be starting to cut jobs, possibly because of steep government spending cuts that began March 1. But economists said they want to see more data before concluding the job market's trajectory has changed.
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 Plus 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