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Unemployment rises slightly

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Thursday, October 04, 2012

The number of Americans seeking unemployment benefits rose to 367,000, indicating only modest hiring.

Weekly applications increased last week by 4,000 from the previous week's level of 363,000, the Labor Department said Thursday. The previous week was revised higher from an initial reading of 359,000. The four-week average, a less volatile measure, was unchanged at 375,000.

Joshua Shapiro, chief U.S. economist at MFR Inc., said the figures are "consistent with a soft but by no means collapsing labor market."

Read more at OregonLive.com.

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