First-time jobless claims rise unexpectedly to 558,000

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.
AUG 13, 2009
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.

Latest News

Devoe: record-breaking RIA M&A run led by private equity's consolidator comeback
Devoe: record-breaking RIA M&A run led by private equity's consolidator comeback

A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year—their highest share since 2021 according to Devoe & Company'.

Fintech bytes: Advisor360, Nitrogen unveil AI updates for advisor productivity
Fintech bytes: Advisor360, Nitrogen unveil AI updates for advisor productivity

Also, Advisor CRM announces a new data integration partnership to ease the pain of client onboarding.

David Fischer of Independent Financial Group talks culture, future growth
David Fischer of Independent Financial Group talks culture, future growth

The co-founder of IFG discussed with InvestmentNews the unique opportunity that remaining independent offers to build a successful firm.

Wealth Consulting Group taps veterans from Envestnet, Emigrant Partners for new advisory board
Wealth Consulting Group taps veterans from Envestnet, Emigrant Partners for new advisory board

Three industry leaders will join the hybrid RIA's president and LPL alum, Andy Kalbaugh, to help guide its organic and merger-based growth strategy.

AI, branding, and social media emerge as key factors in attracting next-gen advisors, J.D. Power finds
AI, branding, and social media emerge as key factors in attracting next-gen advisors, J.D. Power finds

Latest survey shows digital tactics and empowerment top of mind for early-career advisors to be satisfied with their firms.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.