WASHINGTON -- The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.
Initial claims for jobless benefits rose by 12,000 to a seasonally adjusted 472,000, the Labor Department said Thursday. It was the highest level in a month.
First-time jobless claims have hovered near 450,000 since the beginning of the year after falling steadily in the second half of 2009. That has raised concerns that hiring is lackluster and could slow the recovery.
Still, the four-week average for unemployment claims, which smooths volatility, dipped slightly to 463,500. That's down by 3,750 from the start of January.
In a separate Labor report, consumer prices fell for the second straight month. The 0.2 decline in the Consumer Price Index was pulled down falling energy prices -- most notably a 5.2 percent drop in gasoline prices. Declining energy bills were the main factor pulling down prices. - FOX News Story
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