New Jobless Claims Unchanged From Previous Week

(Newsroom America) -- New claims for unemployment benefits remained unchanged from last week, pointing to a job market that is beyond anemic, analysts said Thursday.

First-time claims for state unemployment benefits were a seasonally adjusted 374,000, according to the Labor Department. The prior's week's figures were revised upward by 2,000 over what was previously reported.

A separate government report noted that consumer spending rose 0.4 percent, the best showing in five months and ahead of a 0.3 percent gain in income, Reuters reported.

Unemployment claims rose by 10,000 in August, which suggests that job growth has leveled off once more after payrolls rose 163,000 in July.

Meanwhile, the unemployment rate ticked upward last month to 8.3 percent. The rate has been above 8 percent for more than three years, a statistic in which Republicans have used to dog President Obama on the campaign trail. It's also the first time unemployment has been above 8 percent for so long since the Great Depression.

© 2012 Newsroom America.

Newsroom America Twitter Feed