New filings for unemployment claims rose more than expected last week, matching the highest level since 2005, according to a report released Thursday by the Labor Department. According to the report, 378,000 people filed for unemployment for the first time in the week ending March 15, up 22,000 from a revised 356,000 reported in the previous week. The 378,000 reading, which is subject to revision, matched the number reported for the week ended Jan. 26. New jobless claims last exceeded that number on Oct. 1, 2005 when they hit 385,000. A consensus of economists polled by Briefing.com had expected to see initial jobless claims to rise by 4,000 to 360,000.
See "Unemployment claims surge in latest week", Kenneth Musante, CNN Money, March 19, 2008