New U.S. claims for unemployment benefits rose more than expected last week, lifted by striking Verizon Communications workers, a government report showed on Thursday.
Initial claims for state unemployment benefits rose 5,000 to a seasonally adjusted 417,000, the Labor Department said, but still nowhere near levels that would signal a recession.
Striking Verizon workers filed 8,500 claims for jobless benefits last week, after submitting 12,500 applications the previous week, which covered the period for the August nonfarm payrolls survey.
That suggests that the strike would have a negative affect on the payrolls count, which will be reported on Sept. 2. The strike against Verizon has ended.
Economists polled by Reuters had forecast claims rising to 405,000 last week. The prior week's claims were revised up to 412,000 from the previously reported 408,000.
Hey O how much luck are your generating on those golf courses? Probably as much luck as OJ had looking for the real killer.
Also, is it just me but I keep wondering why the "adjusted" figures from the previous period are always adjusted negatively?
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