Economists are surprised by increase in initial jobless claims

12/18/2009 | CNNMoney

The number of workers submitting their first claim for unemployment benefits increased 7,000 to 480,000 two weeks ago, the Labor Department said. Economists polled by Briefing.com had expected the total to drop to 465,000. "With all the seasonal factors in play at this time of year, I'm not going to get too concerned over a couple of weeks of increases," said Robert Dye, senior economist at PNC Financial Services Group.

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