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New Jobless Claims Jumped to 496,000 as Heavy Snow Caused Rise in Layoffs

February 25th, 2010
Categories: News, Economic

Link: http://www.foxnews.com/politics/2010/02/25/new-jobless-claims-rise-unexpectedly/

The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise. The number of new claims for unemployment benefits jumped unexpectedly last week as heavy snows caused layoffs to rise. In addition, many state agencies in the mid-Atlantic and New England regions that process the claims were closed due to the storms and are now clearing out backlogs, a Labor Department analyst said. The department said Thursday that first-time claims for unemployment insurance rose by 22,000 to a seasonally adjusted 496,000. Wall Street analysts polled by Thomson Reuters expected a drop to 455,000. Bad weather can cause job losses in construction and other industries sensitive to weather.

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