Weekly Jobless Claims Increase Slightly As Employment Market Improves

weekly jobless claims

WASHINGTON, Jan 31 (Reuters) - The number of Americans filing new claims for unemployment benefits bounced off five-year lows last week, pulling them back to levels consistent with modest job growth.

Initial claims for state unemployment benefits increased 38,000 to a seasonally adjusted 368,000, the Labor Department said on Thursday. The prior week's claims figure was unrevised.

Economists polled by Reuters had expected claims to increase to 350,000.

Claims have been very volatile this month, dropping sharply in the week ended Jan. 12 and maintaining the trend in the following week. That was largely because the model used by the department to smooth out the seasonal variations has been unusually generous during the first three weeks of January.

The volatility in the so-called seasonal factors has to do with the timing of holidays and when the week ends. The January calendar this year is aligned to 2008 and claims have generally followed a similar pattern.

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The four-week moving average for new claims, a better measure of labor market trends, gained 250 to 352,000, suggesting a steady improvement in labor market conditions.

A Labor Department analyst said the seasonal factor had anticipated claims would drop 24.8 percent last week. Unadjusted claims, however, only declined 16.1 percent. As a result, the seasonally adjusted claims increased last week.

He said no states were estimated and there was nothing unusual in the state-level data.

The claims data has no bearing on January's employment report, which is scheduled for release on Friday, as it falls outside the survey period.

More: ADP Report Claims 192,000 Jobs Added In January

Employers are expected to have added 160,000 jobs to their payrolls after an increase of 155,000 in December. The unemployment rate is seen holding steady at 7.8 percent.

The employment report could confirm that the economic recovery remains intact after output unexpectedly contracted in the fourth quarter. The drag largely came from temporary factors, which were expected to lift this quarter.

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid increased 22,000 to 3.20 million in the week ended Jan. 19.

The four-week moving average of so-called continuing claims was the lowest since July 2008.



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COMMON SENSE

Obama Tax and Spend kills new jobs as businesses keep leavong America and businesses rerminating full time employees in favor of part time employees dur to the vost of Obamacare. Real unemployment is 15% amd it will get worst. gasoline prices are going up agan.

February 05 2013 at 8:13 AM Report abuse +1 rate up rate down Reply
Robert & Lisa

You elected the wrong man for President. It's going to be a rough four more years. He took the worst economy since Jimmy Carter and made it the worst since the Great Depression.

February 02 2013 at 9:03 AM Report abuse +1 rate up rate down Reply
papadb24

Anybody Still buying this Crap?

February 01 2013 at 12:06 PM Report abuse +3 rate up rate down Reply
croone22

Job Market Improves? Stop the BS! At 7.9% UR and heading higher,it doesn't look like anything but more bad news. Look ,Obama and his administration knows nothing about economics 101 or 102,etc.,etc.,etc.. And when uncle Ben has to raise interest rates to accomodate the funding of our ND,the game is over and the U.S. will beheading for a Depression... Garbage in...Garbage out!

February 01 2013 at 10:46 AM Report abuse +5 rate up rate down Reply
Iselin007

Really are you that disconnected from reality?

February 01 2013 at 4:57 AM Report abuse +3 rate up rate down Reply
lsoxchance

Mason, they dont count the people who are on SSI, or the ones who cant find jobs and who ran out of unemployement benifits. Which to me is a very sad thing due to the fact we aren't doing great, middle class whats that? I am scared to think we cant even pay our bills. I paid mine off thinking I needed to. I had to laugh when I heard this line comming out of someone on CNN when I was away in a hotel room. Well, we need to boost up more money so we can pay off our bills. WHAT THE HECK, So we need to push up the deffict to pay more bills. Does that make any sense to you??? I am still trying to figure that one out. I might not have that four year college degree, just a two. School isnt for me. But I do feel bad for my niece who just graduated, just got a job she wanted, but not the big bucks, but on top of all of that, think of all those lawyers who still dont have a job and are in tons of debt for student loans or even worse than that, they are stuck back home. I am home, I was injured in the Army, which I still work 38 hours a week, with benifits and more. Looking at moving back to phx for a better job, and being in the service for only 13 years. I get not even 50% of what I made state side, just unde 650 a month. Gee wiz, I have to get job. LOL. Which to me I love what I do. I will move to any part of this country to work. And not ask for a handout.

February 01 2013 at 1:50 AM Report abuse +4 rate up rate down Reply
chrsclem4

Wow did Mcdonalds have layoffs? Seems the only jobs O's recovery plans have created are fast food and Government jobs. Slowest recovery ever on record and we have four more years of his garbage.

February 01 2013 at 12:13 AM Report abuse +7 rate up rate down Reply
GARY P

I guess the News Media thinks we are too stupid or it worked so well for them during the Campaign they would just continue to paint lipstick on a pig. READ-UNEMPLOYMENT CLAIMS INCREASED 38,000. If you read the article you would think our economy is really improving. I've read garbage before but this article is ridiculous. Did Obama write it?

January 31 2013 at 11:16 PM Report abuse +7 rate up rate down Reply
Tom

This administration wants us to think that most are working. That is BS, People are still being moved out of their homes. They don't count the 5.4 million that went on dissability. Guess where the next problem is going to be. They don't count the millions now on welfare and food stamps. They want us to think that everything is just wonderful so they can give amnesty to the 11+ million of illegals to gain more voters at our expense.

January 31 2013 at 10:40 PM Report abuse +6 rate up rate down Reply
Kimberly

The Blame-o-crats still think it's Bush's fault!

January 31 2013 at 10:40 PM Report abuse +6 rate up rate down Reply

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