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Jobless claims rise to highest level in 9 months

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Posted: Aug 19, 2010 8:45 AM by John Pastorek
Updated: Aug 19, 2010 3:46 PM
Source: Associated Press

  Rating: 1.0 (1 vote)

Topics: jobs, jobless claims, unemployment, insurance, Labor Department, Wall Street, economy, recovery

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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