Unemployment Claims Jump 12,000

The number of people filing initial unemployment claims jumped to 465,000 last week, a significant increase over the week before.

According to the latest report by the U.S. Department of Labor, the initial jobless claims moved upwards by 12,000 from a revised 453,000 claims for the week before last. It’s a surprise as the last two weeks saw small drops, and economists expected a flat or small downward change, according to the Associated Press.

However, the four-week moving average, a less volatile measure of the unemployment levels, fell by 3,250 to 463,250. Also, the number of people still receiving benefits fell by 48,000 to 4.49 million for the week ending September 11.