Initial Claims Rise to Highest Levels Since Mid July

Due in part (but not wholly) to disruptions caused by Hurricane Isaac, initial jobless claims for the latest week rose to their highest level (382K) since mid-July and were well above the consensus forecast of 370K.  Making matters worse, last week's claims reading was also revised slightly higher from 365K to 367K.  Interestingly, as pointed out by zerohedge earlier, there has not been a single week in 2012 where claims have been revised lower.  Continue reading.