New applications by workers seeking unemployment benefits climbed by 27,000 to a seasonally adjusted 412,000 in the week ended April 9, the Labor Department said Thursday. Economists surveyed by MarketWatch had expected new applications for jobless benefits to drop to 380,000. The average of new claims over the past four weeks, meanwhile, rose by 5,500 to 395,750. A Labor Department spokesman said claims typically jump in the week following the end of a quarter.Unexpected!
Meanwhile, the president flies to Chicago on your tab today to raise money for his re-election.