JOBLESS CLAIMS POST UNEXPECTED RISE
September 11, 2003
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The number of U.S. workers filing initial claims for unemployment aid rose for a third straight week last week, according to a government report showing unexpected weakness in the job market, Reuters reported. First-time filings for state jobless benefits rose by a slim 3,000 to 422,000 in the week ended Sept. 6, the Labor Department said. The increase, which brought claims to their highest level since early July, defied predictions on Wall Street for a drop to 400,000 from the 413,000 originally reported for the Aug. 30 week. Numerous signs have suggested the U.S. economy is now growing, but companies have continued to lay off workers and hold the line on hiring as they seek to bolster profits, reported the newswire.
