First-time jobless claims rise unexpectedly to 558,000

The number of newly laid-off workers filing claims for unemployment benefits rose unexpectedly last week, while continuing claims fell sharply. The Labor Department says new claims increased to a seasonally adjusted 558,000, from 554,000 the previous week. Analysts expected new claims to drop to 545,000, according to Thomson Reuters. The number of people remaining on the benefit rolls fell to 6.2 million from 6.34 million the previous week. Analysts had expected a slight decline. The four-week average of initial claims, which smooths out fluctuations, rose by 8,500 to 565,000, after falling for six straight weeks.