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U.S. jobless claims spike


Published: Feb. 28, 2008 at 10:19 AM
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WASHINGTON, Feb. 28 (UPI) -- First-time claims for unemployment insurance benefits increased by 19,000 in the week ending Feb. 23, the U.S. Department of Labor reported Thursday.

There were 373,000 initial claims during the week, the report said.

The period, which included the Presidents' Day national holiday, gave the four-day week average a slight decline, although the average, at 360,500, remains comparable to 2005 figures, when jobless claims rose in the aftermath of Hurricane Katrina.

The previous week's four-week average declined by 1,250 claims, the report said. The Department of Labor revised the previous week's claims to 354,000.

The high four-week average includes a spike the week of Jan. 26, when 378,000 new benefits claims filed were filed.

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