Jobless Claims Up 19,000 in One Week

MoneyNews
Thursday, Feb. 28, 2008

WASHINGTON -- The number of U.S. workers applying for unemployment benefits rose a much bigger than expected 19,000 last week, the government said on Thursday in a report that showed a weakening labor market as the economy slows.
First-time jobless claims increased to a seasonally adjusted 373,000 in the week ended Feb. 23 from a revised 354,000. That was much higher than the 350,000 claims economists polled ahead of the report were expecting after an initially reported 349,000 the prior week.

A Labor Department official said there were no special factors behind the increase.

In more signs of a weakened labor market, the number of workers remaining on jobless benefits rose to 2.81 million in the week ended Feb. 16, the most recent week these data were available. That was the highest level since October 2005 in the aftermath of Hurricane Katrina.

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