Jobless rate creeps back up above 400,000

House Minority Whip Steny Hoyer (D-Md.) blasted Republicans on the House floor Wednesday, saying their proposed $61 billion in spending cuts would hurt job creation. 

Meanwhile, Republicans continue to argue that cutting spending and the federal deficit will help the economy and create jobs. 

Economists say jobless claims need to run between 300,000 and 400,000 to reflect job growth. 

Companies have said they plan to hire in the first six months of the year, especially as consumer demand picks up. 

The unemployment rate is expected to remain about 9 percent for 2011 before dropping to 8 percent next year. The Federal Reserves is anticipating that it will take about four years for jobless levels to drop back down to the 5 percent to 6 percent range. 

The total number of people claiming benefits in all programs for the week ending Jan. 29 was 9.25 million. 

The number of people still receiving benefits under regular state 26-week programs was up 1,000 to 3.91 million in the week ended Feb. 5.

North Carolina and Michigan showed the biggest gains in jobless claims. Florida had the largest drop in claims.