10 Mar '11, 4pm

US jobless claims rise: WASHINGTON: New claims for US unemployment benefits rose more than expected last week, a...

US jobless claims rise: WASHINGTON: New claims for US unemployment benefits rose more than expected last week, a...

WASHINGTON: New claims for US unemployment benefits rose more than expected last week, according to official figures released on Thursday. Initial jobless claims rose to 397,000 in the week ending March 5, up 26,000 from the week before the Labour Department reported. Claims continue to hover around their lowest levels since 2008, although Wall Street had expected last weeks number to be slightly lower, at 382,000, according to the consensus estimate. Last week the Labour Department reported the unemployment rate dipped to 8.9 percent in February from 9.0 percent the month before, while the economy created a solid 192,000 jobs. Federal Reserve chairman Ben Bernanke has said there are increasing "grounds for optimism" that the ailing US jobs market will pick up this year.

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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