Initial Jobless Claims Jump More Than Expected

Washington, DC, Nov. 4, 2010 -- Initial jobless claims increased 20,000 to 457,000, reversing a sharp decline from the week before, according to the Labor Department.

Economists had expected initial claims to climb to 445,000 in the week ended Oct. 30.

The latest increase put weekly claims back to the same level as the end of 2009, meaning there's been no change this year.

Continuing claims, which reflect workers who've already been receiving benefits, dropped 42,000 to 4.34 million.