Today’s Bad News- 454,000, Initial Unemployment claims higher

Posted on January 27, 2011


NEW YORK ( — The number of Americans filing for first-time unemployment benefits rose last week, signaling the roller coaster ride for the job market has not come to an end.

There were 454,000 initial jobless claims filed in the week ended Jan. 22, the Labor Department said Thursday.

That was up 51,000 from the 403,000 claims filed the week before, and much worse than the 410,000 claims economists surveyed by had expected.

Jobless claims have bounced around for months, dipping below the 400,000 mark four weeks ago. Soon after, they began rising again.

Since the weekly figures can be volatile, economists look at the four-week moving average to smooth out the week-to-week choppiness. That figure rose 15,750 to 428,750 from the previous week, showing a slightly worse job market.

Continuing claims — which include people filing for the second week of benefits or more — rose to 3,991,000 in the week ended Jan. 15, an increase of 94,000 from the week before. 

CNN.COM  Annalyn Censky