The number of new claims for unemployment benefits rose more than expected last week to a seasonally-adjusted total of 445,000. This is an increase of 22,000 and is being partially blamed on the string of bad weather and snow storms that plagued the eastern seaboard. It seems some offices were unable to process claims for the previous week and were carried over to last week.
Looking at the four-week average however, the number of job losses continue to rise indicating that more jobs are still being lost, than are created.
Source: Associated Press
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