The number of newly laid off workers filing for unemployment benefits in the United States unexpectedly rose last week, the U.S. Labor Department reported Thursday. The new figures showed that applications for unemployment benefits totaled 334,000, an increase of 9,000 from the previous week.The gain came as a surprise to analysts, who had been forecasting that jobless claims would fall by around 2,000.Analysts are closely watching to see whether recent financial market turmoil will have an impact on business hiring decisions.The stock market had a mixed reaction to both the unexpected unemployment rise and gross domestic product figures that were slightly worse than predicted. The U.S. Commerce Department said second-quarter gross domestic product rose 4.0 percent, the fastest pace in more than a year, but slightly lower than many anticipated. The report also suggested that business investment, not consumer spending, was the main driver of growth.The markets remain concerned that shrinking credit is hurting the economy and are unsure whether the Federal Reserve will step in to cut interest rates at or before its next meeting on September 18.
