Jobs picture dims as unemployment claims rise!
WASHINGTON - August 12, 2010 - The employment picture is looking bleaker as applications for jobless benefits rose last week to the highest level in almost six months.
It's a sign that hiring is weak and employers are still cutting their staffs.
First-time claims for jobless benefits edged up by 2,000 to a seasonally adjusted 484,000, the Labor Department said Thursday. Analysts had expected a drop. That's the highest total since February.
Initial claims have now risen in three of the last four weeks and are close to their high point for the year of 490,000, reached in late January. The four-week average, which smooths volatility, soared by 14,250 to 473,500, also the highest since late February.