Shock upturn in US jobless benefit claims

first_img Show Comments ▼ Share KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comDaily Finance StoriesChrissy Metz, 40, Shows Off Massive Weight Loss In Fierce New PhotoDaily Finance Stories CLAIMS for unemployment benefits in the US unexpectedly shot up last week, official data showed yesterday.New claims have been on a downward path for around two years, but jumped by 27,000 in the week ending 9 April to total 412,000.Applications for state benefit typically increase at the beginning of a new quarter, as payments are calculated on the basis of the previous four quarters’ earnings. Yet the degree of volatility still shocked analysts and comes as an unwelcome knock to the US recovery.“I’d view this as one data point, and a data point that is volatile from week to week,” said Brian Lazorishak of Chase Investment Counsel in Virginia.“However, one of the positives we’ve had in the past year is continued, albeit slow, improvement in the jobs picture, so any setback there will be discouraging.”Meanwhile, inflationary pressures were revealed in a separate data release from the bureau of labour statistics. Core producer prices – which do not include food or energy components – rose 0.3 per cent in March, compared to February. The jump pushed the annualised rate of core price inflation to 1.9 per cent, the largest gain since August 2009.“Yet the rise in core prices was all concentrated in light truck prices,” said economist Brian Jones of Societe Generale in New York. “It could be due to seasonal adjustments and they tend to be volatile. It could even be a pickup in demand.”The headline producer price index number showed a 0.7 per cent rise in prices on the month, largely driven by energy prices, which surged by 2.6 per cent.Compared to March last year, the price of finished goods was up 5.8 per cent. Tags: NULLcenter_img Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp Thursday 14 April 2011 8:07 pm Shock upturn in US jobless benefit claims whatsapplast_img read more