First-time unemployment filings surge to 8-month high
NEW YORK (CNNMoney) -- The number of Americans filing for their first week of unemployment benefits surged last week, the government said Thursday.
The number of initial claims rose to 474,000 in the week ended April 30, up 43,000 from the week before. It was the highest level since August, and a big surprise to economists, who were expecting initial claims to drop to 400,000 in the latest report.
Initial claims have been gradually trending lower over the last year, but their path has been far from steady.
The number of Americans filing for ongoing claims rose 74,000 to 3,733,000 in the week ended April 23, the latest data available.
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