By CHRISTOPHER S. RUGABER,Associated Press
Obamanomics is prolonging the recession
The number of people filing new jobless claims jumped unexpectedly last week,and the total unemployment benefit rolls rose to more than 6.7 million.
The Labor Department data released Thursday show jobs remain scarce even as the economy shows some signs of recovering from the longest recession since World War II.
The department said initial claims for jobless benefits rose last week by 15,000 to a seasonally adjusted 627,000. Economists expected a drop to 600,000,according to Thomson Reuters.
Several states reported more claims than expected from teachers,cafeteria workers and other school employees,a department analyst said.
The number of people continuing to receive unemployment insurance rose by 29,000 to 6.74 million,slightly above analysts’estimates of 6.7 million.
The four-week average of claims,which smooths out fluctuations,was largely unchanged,at 616,750.
Economists expect the number of initial unemployment insurance claims,which reflects the level of layoffs,to slowly decline over the coming months as the economy bottoms out.
Still,claims remain far above levels associated with a healthy economy. A year ago they were 392,000.