The data from
the Labor Department revealed on Thursday the number of applications for
unemployment increased more than forecast last week.
According to
the report, the initial claims for unemployment benefits increased by 181,000
to 965,000 for the week ended January 9. This was the highest total since mid
August.
Economists had
expected 790,000 new claims last week.
Claims for the
prior week were revised downwardly to 784,000 from the initial estimate of 787,000.
Meanwhile, the
four-week moving average of claims rose to 834,250 from a downwardly revised 816,000
in the previous week.
Continuing
claims jumped to 5,271,000 from an unrevised 5,072,000 in the previous week.
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