Thursday, October 14, 2004

happy ramadan from the bush economic team

initial unemployment claims jumped more than anyone expected today, to the highest figure in more than seven months. reuters:

the number of people filing an initial claim for u.s. jobless aid rose more than expected to 352,000 last week, a government report showed on thursday.

initial jobless claims rose 15,000 from an upwardly revised 337,000 in the prior week, the labor department said. economists forecast a climb to 340,000 from the originally reported 335,000 in the week ended oct. 2.

the closely watched four-week moving average of claims, which irons out week-to-week volatility, rose for the fifth straight week, climbing to 353,000 in the week ended oct. 9 from an upwardly revised 349,000 in the previous week.

the moving average was at its highest since 355,500 in the week ended feb. 28.

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