Jobless Claims Rise to 462,000, Higher Than Forecast
Economists surveyed by Reuters forecast claims of about 445,000.
A sluggish economic recovery and pessimism about future growth mean employers are reluctant to start hiring, keeping unemployment stubbornly high.
"The real problem is a lack of job growth," Scott Brown, chief economist at Raymond James & Associates, told Bloomberg News before the report. "The good news is we're not seeing the level of layoffs that would be consistent with a double-dip recession. The bad news is we really could be a lot stronger at this point and that's going to take some time."
The four-week moving average, a clearer measure of unemployment trends, rose 2,250 to 459,000 the Department of Labor said. The revised average for the previous week was 456,750.