New jobless claims jumped sharply last week to 386,000 - The Roger Hedgecock Show - Talk Radio

New jobless claims jumped sharply last week to 386,000

WASHINGTON -- New claims for unemployment benefits rose sharply last week to 386,000, the biggest jump in more than a year as the labor market continued to show signs of struggling amid the weakening recovery.

The increase of 34,000 in initial jobless claims came a week after a dramatic drop to 350,000, the lowest level in more than four years. But that figure now looks like an outlier amid an avalanche of other data that show the economic recovery is stuck in low gear.

Federal Reserve Chairman Ben S. Bernanke this week delivered a downbeat assessment of  the recovery as pressure builds on the central bank to take more action to stimulate growth.

Read the entire article: http://www.latimes.com/business/money/la-fi-mo-unemployment-weekly-jobless-claims-20120719,0,290744.story