Jobless claims rise as economic growth slows in April

Despite a number of economic indicators slowly gaining momentum in the early months of 2012, the number of jobless claims increased slightly during the week ending April 7.

Despite a number of economic indicators slowly gaining momentum in the early months of 2012, the number of jobless claims increased slightly during the week ending April 7.

Jobless claims increased by an estimated 13,000 filings to a total of 380,000 during the week, according to the Department of Labor. The total was previously recorded at 367,000 a week earlier.

This finding was disappointing to a number of industry experts, after a forecast from Econoday anticipated only 359,000 claims.

"Disappointing payroll growth in last week's employment report for March is a reminder that fewer layoffs do not necessarily mean new hiring," said analysts from Econoday. "And not that the downward trend in layoffs has flattened the last couple of weeks, the outlook for improvement for the April jobs report is not favorable. This report will likely be a negative factor for today's stock market."

The rate of job creation and jobless claims slowly improved during the first quarter of this year, giving prospective mortgage borrowers safety and soundness to purchase property. However, Federal Reserve Chairman Ben Bernanke speculated as to whether this continued growth would able to be maintained in the long-term.



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