Bloomberg reports that 15,000 more Americans filed claims for unemployment last week, bringing the total to 576,000. Economists had predicted a drop in claims to 550,000.
The four-week moving average rose to 570,000 from 565,750.
Thirty-six states reported an increase, with Tennessee and North Carolina showing the biggest increases. California showed the biggest decrease as employment in construction jobs kicked in.
The labor market is getting weaker. Layoffs and firings are continuing. The latest casualties are coming from defense firms, with Lockheed Martin Corp. (NYSE LMT) laying off 800 workers in its Space Systems unit.
On the brighter side, General Motors is boosting production and bringing back 1,350 union jobs.
Stock index futures gave up some gains after the release of the report with the S&P 500 contract at 996.8 at 8:14 AM.
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