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US Jobless Claims Surge

New claims for jobless benefits in the U.S. jumped in the week ending Apr. 9 to the highest level in two months as the country’s economic recovery struggles to keep momentum, according to The Wall Street Journal.

New claims for jobless benefits in the U.S. jumped in the week ending Apr. 9 to the highest level in two months as the country’s economic recovery struggles to keep momentum, according to The Wall Street Journal. On Thursday, the Labor Departmentreported that initial unemployment claims jumped by 27,000 in the latest week to reach a seasonally adjusted level of 412,000, which far outpaced economists’ forecast for a 3,000-claim rise and marks the highest level sine the week ending Feb. 12. The jump pushed the four-week average of new claims up by 5,500 to 395,750,

The latest increase in unemployment claims has raised some concerns about the strength of the labor market recovery, although the latest official employment summary showed companies adding jobs to bring down the jobless rate. The four-week average of new claims remains below the important 400,000-claim marker that is commonly associated with job growth. Meanwhile, the Bloomberg consumer comfort index improved in the week ending Apr. 10 to -43 from -44.5 the prior week, which marks the highest level since February. The gain was linked to the improving labor market.

Click here to read the story on jobless claims from The Wall Street Journal.

Click here for coverage of consumer comfort from Bloomberg News.

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