Initial Jobless Claims Up, Surprising Economists

Washington, DC, Jan. 14, 2010--Initial jobless claims increased last week by the largest amount in five weeks.

Initial claims rose by 11,000 to 444,000 in the week ended Jan. 9, the Labor Department reported Thursday, a number that surprised economists, who expected the number to decline.

This is the highest level since mid-December.

Despite the increase, the trend is still positive.

The average number of workers filing claims over the past four weeks fell by 9,000 to 440,750. This is the lowest since late August 2008, just prior to the near-collapse of the financial system.