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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

New jobless claims make surprise jump of 18,000

New jobless claims filed last week took a surprise jump, rising by 18,000 to 460,000. Forecasters expected 442,000 new jobless claims to be filed last week.

The four-week moving average of new jobless claims, which smooths out volatility in the number, rose 2,250 to 450,250.

The Labor Department said last week's number was influenced by Easter holiday and California's Cesar Chavez Day. The prior week's new jobless claims number was revised upward 3,000 to 442,000.

At the same time, the number of continuing claims last week fell to 4.55 million from 4.68 million, which is a glimmer of hope for the long-term unemployed. Long-term unemployment is at a historic high.

Economists say that it will be difficult to find significant, lasting job creation until the number of new weekly jobless claims gets down to the low 400,000s and stays there. Nevertheless, at this time last year, more than 700,000 new claims were being filed each week.

The official March U.S. unemployment rate remained unchanged from February at 9.7 percent.

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By Frank Ahrens  |  April 8, 2010; 8:43 AM ET
Categories:  The Ticker  
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Posted by: ixcaiccus | April 8, 2010 8:58 AM | Report abuse

More good news from Obama policies. Can't hide the truth as ahrd as the Post writers want to encourage good news because Obama the great is in power. We wont see unemployment fall for years...until Obamawful is throw out of office. This anti-business anti-jobs prez is setting new standards for being a BAD president...regret that vote yet?

Posted by: espnfan | April 8, 2010 9:03 AM | Report abuse

"The Labor Department said last week's number was influenced by Easter holiday and California's Cesar Chavez Day." What a spin! Guess who is the secretary of Labor? The notorious labor "activist" Hilda L. Solis.

Posted by: suegbic1 | April 8, 2010 9:11 AM | Report abuse

My records show that the oldest copy of a formal bill of exchange is one dated at Milan 9th of March, 1325. "Pay the same to my account, thanking you, may Christ protect you." Payable 9th of October. Avoid temporal perdition. Automation and less work and higher values. Print and publish and profit. Avoid oppressive debts and penury. Pick up pieces of silver and gold out of the dirt and shop for more gem stones. Diamonds hold value if you hold diamonds. It's bacon and eggs time here.

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Posted by: itkonlyyourr | April 8, 2010 10:05 AM | Report abuse

The story about some guy smoking in a plane's bathroom gets a bigger headline and more coverage then this story. Do you think the useful idiots at the WPO are covering for Barry?

Posted by: JoeDBrown | April 8, 2010 10:16 AM | Report abuse

Jobless claims make "surprise" jump, OR Obama was FOS last week when he said the economy was turning the corner?


Please American voters, no more community organizers in the White House.

Posted by: cschotta1 | April 8, 2010 10:38 AM | Report abuse

Massey is up, so you know the red box boys are busy twisting reality into new forms. You guys want in on this, this is going to set a new record. Play broken records too.

Posted by: tossnokia | April 8, 2010 11:52 AM | Report abuse

Well this cannot possibly BE! Why just yesterday the Obama Administration declared a "Main Street Recovery"!!! I guess the O Admin called up the heads of Goldman and other big banks to inquire about how they were doing...the response "oh crap, we are FAT DUMB AND HAPPY! We are getting RICH BEYOND EVEN OUR WILDEST DREAMS DUE TO THE UNLIMITED FREE GOVERNMENT TAX PAYER DOLLARS WE RECEIVE...HECK, WE DON'T EVEN HAVE TO RUN A BUSINESS ANY LONGER WITH THESE GREAT HANDOUTS...WE JUST TAKE THE FREE MONEY AND USE IT TO BET AGAINST OUR STUPID TRUSTING CUSTOMERS INVESTMENTS!!! IT'S A WIN-WIN FOR US ALL THE WAY...THERE IS NO RISK ANY LONGER AS WE HAVE THE OBAMA AND TIMMY G HANDOUT GUARANTEEEEEEEEEEE! WAHOOOO...BUY ME ANOTHER YACHT!!!

Posted by: Impeachbush99 | April 8, 2010 11:59 AM | Report abuse

Another "SURPRISE"! What the bumsen is wrong with these dumm Arschlöcher in the Obama "Administration"?
Phey...

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Posted by: tossnokia | April 8, 2010 5:35 PM | Report abuse

Anyone "surprised" by this should NOT be writing an economics column.

Anyone "surprised" by this should NOT be president.

Anyone "surprised" by this probably shouldn't be voting.

Posted by: docwhocuts | April 8, 2010 5:36 PM | Report abuse

Looks like Arlington or bust from here. Arlington looks like a bargain and the bar is higher. The way the business goes, chances are it will be another bust or two. The busts keep getting bigger and the nights keep getting longer. I'm off on another hot pursuit. How about it?

Posted by: tossnokia | April 8, 2010 5:38 PM | Report abuse

Ah, I love good news from our White House. You mean this is not good news? I thought Obama said it was good news? Wheres my coolaid?

Posted by: gjconely | April 8, 2010 5:40 PM | Report abuse

It's only a surpise to those insulated fools in the Beltway Bubble, like writers and editors who work for the Washington Post, not to us worthless peons out here in the real world struggling to pay our mortgages and taxes.

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