The Labor Department Reported Jobless Claims Rose 27,000 To 412,000, Wholesale Costs Up 0.7%
Apr 14, 2011
The Labor Department reported that applications for jobless benefits rose 27,000 in the week ended April 9 to 412,000. Economists had expected that claims would be little changed at 380,000, according to a Bloomberg News survey.
The labor market is showing signs of strengthening as payrolls increase, which could help to sustain gains in consumer spending.
The average of new claims over the past four weeks rose by 5,500 to 395,750. The Labor Department also reported that wholesale costs in the U.S. rose 0.7% in March, led by higher prices for energy, light trucks and passenger cars. Economists had expected a 1% gain on average for the producer price index.
The increase was smaller than forecast as food prices unexpectedly dropped. The core measure, excluding food and energy costs, rose 0.3%.
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