traffic information | weather | web feeds| mobile
Silicon Valley
Part of the Bay Area News Group
  • Site
  • Web Search by YAHOO!
Home
News
Venture Capital
Personal Tech
The Valley
Hot Topics
Phones/Mobile
Social Networks
Green Energy
Security
Companies
Apple
Google
Facebook
Cisco Systems
Intel
Hewlett-Packard
Oracle
Yahoo
eBay
Gilead Sciences
Adobe Systems
Intuit
Netflix
Electronic Arts
Tesla Motors
Twitter
Zynga
SunPower
Solyndra
Kleiner Perkins
People
Steve Jobs
Larry Ellison
Eric Schmidt
Mark Zuckerberg
Carol Bartz
John Doerr
John Chambers
Paul Otellini
Vinod Khosla
Mark Andreessen
Ron Conway
Biz Stone
Elon Musk
Larry Page
Sergey Brin
Ann Livermore
Marissa Mayer
Sheryl Sandberg
T.J. Rodgers
Mark Hurd
columnists
gmsv
Special Reports
Venture Capital Survey
Salary Survey
Silicon Valley 150
Services
RSS Feeds
Mobile Edition
Widgets
Contact Us
Jobs
Advertising
Archives
Go to MercuryNews.com
Silicon Valley 150
Markets
Stocks
Mutual Funds & ETF's
Sectors
Tools
Overview
Market News
Market Videos
Currencies
International
Treasury & Bonds
Search InvestCenter
Recent Quotes
View Full List
My Watchlist
Create Watchlist
Indicators
Dow Jones Industrial Average
NASDAQ Composite
Standard & Poors 500
NYSE COMPOSITE INDX
Gold
Crude Oil
Jobless Claims Rise for Fourth Straight Week
By: FOX News
Posted on May 31, 2012 at 08:42 AM EDT
New U.S. claims for unemployment benefits continued to rise last week, stoking concerns the labor market recovery is softening.

New U.S. claims for unemployment benefits rose last week for the fourth straight week, which could heighten concerns the labor market recovery is softening.

At the same time, a second reading on U.S. gross domestic product showed the economy expanded at an annualized rate of 1.9% in the first quarter, in line with economists' estimates, but slower than an initial estimate of 2.2%.

Initial claims for state unemployment benefits rose 10,000 to a seasonally adjusted 383,000, the Labor Department said on Thursday.

The prior week's figure was revised up to 373,000 from the previously reported 370,000. Economists polled by Reuters had forecast claims unchanged last week.

Claims have now risen in seven of the last eight weeks. Most of those increases were marginal and the overall level of claims has held at levels consistent with a modest recovery in the labor market.

But the steady increase could add to the concerns raised by April's disappointing 115,000 gain in nonfarm payrolls. A Labor Department report due on Friday is expected to show employers added 150,000 jobs in May.

The four-week moving average for new claims, a measure of labor market trends, increased 3,750 to 374,500.

A Labor Department official said there was nothing unusual in the data but that results for five states, including California, had been estimated.

The number of people still receiving benefits under regular state programs after an initial week of aid fell 36,000 to 3.24 million in the week ended May 19.

The number of people on extended benefits rose 12,479 to 312,434 in the week ended May 12, the latest week for which data is available.

There were 2.62 million Americans receiving emergency unemployment checks during that period, down 12,141 from the prior week.

A total of 6.14 million people were claiming unemployment benefits during the week ending May 12 under all programs, down 30,753 from the previous week.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here
  • Terms of Use & Privacy Statement
  • Copyright ©
  • About our Ads
  • Find San Jose jobs
  • About MediaNews Group
  • RSS
  • About Bay Area News Group
  • Site Map

Media News Group