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News > Economy
Jobless claims surge
November 20, 1997: 8:54 a.m. ET

Unexpected rise of 20,000 claims brings weekly tally to 333,000
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NEW YORK (CNNfn) - The number of individuals who filed for the first time to receive unemployment claims unexpectedly increased last week.
     In its weekly report, the Labor Department said on Thursday that initial jobless claims rose by 20,000 to 333,000 for the week ended Nov. 15. Economists had forecasted claims to come in around last week's level.
     Meanwhile, the figure for the prior week, ended Nov. 8, was revised slightly higher to 313,000 from 310,000 as previously reported.
     Any rise in the number of jobless claims may signal moderating economic growth, which in turn boosts the bond market by helping to stifle inflation.
     However, any gains were held back by another economic report showing a wider-than-anticipated trade gap, particularly with Asian countries.Back to top

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