Thursday, October 22, 2009

New jobless claims rise more than expected to 531K

Posted By:-Anshu Dixit
By Christopher S. Rugaber, AP Economics Writer

WASHINGTON (AP) -- The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, as employers remain reluctant to hire even with the economy showing signs of recovery.

Claims had fallen in five out of the previous six weeks and most economists expect that trend to continue, but at a slow pace, as jobs remain scarce.

The report is "slightly disappointing," Ian Shepherdson, chief U.S. economist at High Frequency Economics, wrote in a note to clients, "but it does not change the core story, which is that ... a clear downward trend in claims has emerged" over the past two months.

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