World Economy
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US Joblessness Rises

US Joblessness RisesUS Joblessness Rises

The number of Americans filing applications for unemployment benefits rose last week as employers continued to adjust staffing levels following the holidays. Jobless claims climbed by 8,000 to 285,000 in the week ended Jan. 30, from a revised 277,000 in the prior period, a report from the Labor Department showed on Thursday. The median forecast of 47 economists surveyed by Bloomberg called for 278,000. The four-week average exceeded 280,000 for a third consecutive week, indicating the pace of firings has sped up a bit from historically low levels. Other recent reports show employers are holding on to existing staff and are still adding workers as they anticipate sales will improve.

Financialtribune.com