New U.S. Jobless Claims Climb 20,000 To 362,000

 

 

 

” Yet economists caution that claims could get whipsawed again, as they often do, if Washington proceeds with a so-called sequester that requires the federal government to cut as much as $85 billion in spending in the next six months. That could result in workers being temporarily furloughed or laid off, making them eligible for jobless benefits.

The monthly average of jobless claims, a more accurate number that smooths out weekly volatility, rose by 8,000 to 360,750. That’s the highest level since the first week of January

In the week ended Feb. 9, meanwhile, continuing claims increased by 11,000 to a seasonally adjusted 3.15 million.”