Initial Jobless Claims Rise Unexpectedly

Washington, DC, Feb. 25, 2010--Initial jobless claims jumped 22,000 to 496,000 in the week ended Feb. 20, the Labor Department reported Thursday.

It's the highest rate since November and the sixth increase in the first eight weeks of 2010.

Economists expected initial claims to drop to 460,000.

The four-week average of initial claims rose 6,000 to 473,750.

Altogether, 11.55 million people were collecting some type of unemployment benefits in the week of Feb. 6, down from the previous week's level of 11.8 million.