New weekly jobless claims unexpectedly rose by 24,000 to 484,000 last week, the government said this morning, increasing worries that high unemployment will stick around for a long time.
Forecasters had expected the new jobless claims number to come in at 430,000.
This is the second straight week of increases, but a Labor Department economist blamed the rise on technical factors.
The four-week moving average, which smoothes out volatility in the number, rose by 7,500 last week to 457,750. Continuing claims rose from 4.57 million to 4.64 million.
not good. every time when market goes crazy, the bad news came out. Easter is the factor
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