Jobless claims rise to their highest since June

09/15/2011 | Wall Street Journal, The

First-time jobless claims last week climbed to their highest level since June, according to a report from the Department of Labor. Claims were up by 11,000 last week from the week before, for a total of 428,000. Unemployment in the construction industry remains stagnant, and the only industry that showed improvement was manufacturing, rising 0.2% in August for the fourth straight month, according to Federal Reserve data. "It is pretty grim out there. It is really difficult to find any sustained source of strength in the U.S. and international economy," said Bernard Baumohl, chief global economist with the Economic Outlook Group, a research firm.

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