Initial Jobless Claims Rise Unexpectedly

Washington, DC, Aug. 19, 2010--Initial jobless claims rose unexpectedly in the latest week to their highest level in nine months, the Labor Department reported Thursday.

The number of initial claims in the week ending Aug. 14 rose 12,000 to 500,000. This is the third consecutive weekly increase. Claims are at their highest level since Nov. 14, 2009.

The consensus forecast of Wall Street economists was for claims to inch lower.

The four-week average rose 8,000 to 482,500.