Jobless Claims Rose Last Week

It couldn’t last forever–the long string of weeks wherein fewer people filed for unemployment than the week prior has ended, with jobless claims inching up 8,000 to 362,000 last week.

The four-week moving average was 355,000, an increase of 250 from the prior week.

But the slight setback hasn’t dampened optimism for tomorrow’s unemployment report; economists are predicting at least 200,000 jobs were added in the month of February, which fits quite nicely with ADP’s report from yesterday.

The total number of people receiving unemployment benefits continued to decline in the week ended Feb. 18, the most recent week data are available. About 7.3 million Americans were receiving some form of benefits, down more than 111,000 from the week before.

Publish date: March 8, 2012 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT