Jobless claims jump in post-Easter volatility

By IBTimes Staff Reporter | April 15 2010 9:56 AM

The number of U.S. workers filing new claims for jobless benefits unexpectedly soared last week as applications held back during the Easter holiday were processed, government data showed on Thursday.

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Initial claims for state unemployment benefits rose 24,000 -- the largest increase in two months -- to a seasonally adjusted 484,000, the Labor Department said.

Analysts polled by Reuters had expected claims to dip to 440,000 from 460,000 the prior week, a number that was unrevised in Thursday's report.

A Labor Department official said the increase in claims last week was mainly due to administrative factors rather than economic ones. I don't think there is a whole lot of layoffs going on, he said.

The four-week moving average of new claims, which irons out week-to-week volatility, rose 7,500 to 457,750.

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

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