Jae C. Hong, Associated Press
Jobless claims had an unanticipated spike last week, making for a four-month high, according to the Los Angeles Times. This could be bad news for the economy.
"There is evidence that the economy is going to slow in the second quarter again this year as the European economy is weak and the mandatory spending cuts from Washington start to have a greater impact," Chris Rupkey, chief financial economist at the Bank of Tokyo-Mitsubishi in New York, told the Times.
In this latest report from the Labor Department, the number of people claiming unemployment benefits rose 28,000. In all, there were 385,000 filing for benefits. The rise is in contrast to the nearly four-year low of 334,000 that was hit in early march.
Rupkey said the rising claims are "not a good sign." In the private sector, the fewest jobs were added since October — only 158,000, according to the Times.
Economists said spring stalling has happened the past few years, so the economy is expected to slow again. Overall, the unemployment rate is projected to stay at 7.7 percent.
- The most popular jobs in America
- How much did President Obama donate to his...
- 9 things to never buy at yard sales
- How to rear money-smart kids
- Obamacare may not be as expensive as we thought
- Which county in Utah has the least poverty?
- Balancing act: French ban on after-hours...
- The dangers of financially illiterate...
- How much did President Obama donate to... 45
- The dangers of financially illiterate... 30
- Obamacare may not be as expensive as we... 21
- Balancing act: French ban on... 9
- U.S. 'tax freedom day' is 3 days later... 4
- What increasing rent costs mean for the... 3
- Photo gallery: Students learn the ABCs... 2
- College football, basketball athletes... 2