Unemployment Claims Rise

The number of people applying for unemployment rose last week to a one-month high, bringing back worries about a recession, according to figures released by the Labor Department on Thursday. Jobless claims rose by 4,000 to reach 372,000 in the period ending Aug. 18, with the four-week average—the less volatile number—increasing to 368,000. Analysts said employers may be keeping their companies lean with fears of a recession looming—not to mention the ongoing European debt crisis and a slowdown in Asia. But there have been some bright spots on the horizon: employers added 163,000 jobs in July, the biggest gain since February, according to the Labor Dept. numbers released earlier this month.

Source: Bloomberg