The number of newly unemployed workers filing initial claims for jobless benefits rose unexpectedly last week, the Labor Department said in a Thursday report. The rise is the fourth in the past five weeks. Most economists hoped that claims would resume a downward trend that was evident in the fall and early winter. The Labor Department said that new claims for unemployment insurance rose by 8,000 to a seasonally adjusted 480,000. Wall Street economists had expected a drop to 460,000, according to Thomson Reuters. The four-week average rose for the third straight week to 468,750. The figure is the highest in the past two months. Initial claims dropped sharply in late December, raising hopes among economists that layoffs were nearing an end and the economy would soon start generating net gains in jobs. The figures come a day before the Labor Department is scheduled to report the January employment figures, which are expected to show a slight gain in jobs. The unemployment rate is forecast to rise to 10.1 percent. The number of people continuing to claim benefits was unchanged at 4.6 million. That data lags initial claims by a week.
