Initial Jobless Claims Rise on Hurricane Damage

Washington, DC, Sept. 18, 2008--Initial jobless claims rose unexpectedly by 10,000 last week, as job losses from Hurricane Gustav began to mount, the Labor Department reported on Thursday.

Initial claims for state unemployment insurance benefits rose to a seasonally adjusted 455,000 during the week ended Sept. 13 from 445,000 the prior week. Analysts had forecast claims to drop to 440,000 last week.

The four-week moving average for claims rose by 5,000 to 445,000 in the week ended Sept. 13.

Meanwhile, the number of continued claims -- people remaining on benefit rolls after drawing an initial week of aid -- unexpectedly fell by 55,000 to 3.48 million in the week ended Sept. 6, the most recent week for which that data is available, after an increase of 129,000 the prior week.