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Jobless claims rise to highest level in 9 months

5 years ago August 19, 2010 Aug 19, 2010 Thursday, August 19 2010 Thursday, August 19, 2010 7:45:20 AM CDT in News
Source: Associated Press
By: John Pastorek

New applications for unemployment insurance reached the half-million mark last week for the first time since November, a sign that employers are cutting jobs again as the recovery slows.

The Labor Department said initial claims for jobless benefits rose by 12,000 last week to 500,000, the fourth increase in the past five weeks.

Wall Street economists had forecast that claims would drop.

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