Initial Jobless Claims Higher Than Expected

Washington, DC, Sept. 23, 2010--Initial jobless claims jumped 12,000 to 465,000 in the latest week, the Labor Department reported Thursday.

New claims had dropped two straight weeks, but part of the decline stemmed from a disruption in the government's data collection caused by the Labor Day holiday in early September. Claims often rise after the holiday.

Economists had expected initial claims to rise to a seasonally adjusted 455,000 in the week ended Sept. 18. The four-week average fell 3,250 to 463,250, the lowest level since the end of July.