Initial Jobless Claims Rise Unexpectedly

Washington, DC, April 15, 2010--Initial jobless claims jumped 24,000 in the latest week, according to the Labor Department,

Initial claims shot up to a seasonally adjusted 484,000 in the week ended April 10.

The four-week average of initial claims also 7,500 to 457,750.

Claims have unexpectedly risen two straight weeks, but a Labor official said the Easter holiday and a special holiday in California, the nation's largest state, disrupted collection of jobless data.

Initial claims are down 20% from 609,000 in the same week one year ago, but they are 6% higher vs. the end of 2009.

Economists had forecast claims would drop to 430,000 in the latest week. Claims have to fall to 400,000 or lower to indicate an accelerated hiring trend, they say.