Thursday, May 5, 2011

U.S. jobless claims hit 8-month high, productivity slows

From Reuters:
The number of Americans filing for jobless aid rose to an eight-month high last week and productivity growth slowed in the first quarter, clouding the outlook for an economy that is struggling to gain speed...

New claims for state jobless benefits rose 43,000 to a seasonally adjusted 474,000, the highest since mid-August...

Reports this week showed weaker employment growth in the manufacturing and services sectors in April. Data from payrolls processing firm ADP Employer Services also showed a step back in private hiring last month...

Even the four-week moving average of unemployment claims -- a better measure of underlying trends -- increased 22,250 to 431,250, the highest since November...

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