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"They [unemployment claims] are not in a danger zone, but the trend is not becoming healthier"
- Pierre Ellis, an economist at Decision Economics
The number of Americans claiming for unemployment benefits rose to 402 thousand last week from 396 thousand the week before, said the Department of Labor on Thursday. Economists expected the reading to decline to 390 thousand.
"Companies are still in a mode of hiring based on absolute need," said Russell Price, senior economist at Ameriprise Financial Inc. in Detroit. "They're not adding a whole lot of workers for future growth. Employers are waiting to see what happens with the payroll tax cut."
"They're not in a danger zone, but the trend is not becoming healthier," Pierre Ellis, an economist at Decision Economics in New York, said of the claims data.