Weekly Jobless Claims Surge, Erasing Prior Weeks' Declines

A Choice Career Fair As Jobless Claims Unexpectedly Drop To Two-Month Low
Ty Wright/Bloomberg via Getty Images
By Lucia Mutikani

WASHINGTON -- The number of Americans filing new claims for unemployment benefits rose sharply last week, reversing the prior three weeks declines, but a recent strengthening of the labor market likely remains intact.

Initial claims for state unemployment benefits surged 68,000 to a seasonally adjusted 368,000, the Labor Department said on Thursday. That was the largest weekly increase since November 2012. Claims for the prior week were revised to show 2,000 more applications received than previously reported.

Economists polled by Reuters had expected first-time applications to rise to 320,000 last week.

The four-week moving average for new claims, which irons out week-to-week volatility, rose 6,000 to 328,750.

A Labor Department analyst said no states had been estimated and there were no special factors influencing the report. He noted, however, that seasonal volatility, including a late Thanksgiving, made it difficult adjusting the data for seasonal variations.

Jobless claims fell for much of November.

The labor market is strengthening, with nonfarm payrolls increasing solidly in October and November. The unemployment rate dropped to a five-year low of 7.0 percent in November.

The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid increased 40,000 to 2.79 million in the week ended Nov. 30.


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Valerie

7% unemployment.........pfooey. Who does the government think they are fooling with these fake numbers??

Every town in America has people scrounging for food in dumpsters, families living in their cars, and panhandlers in stores and parking lots. Food banks and churches can't keep up with needs of desperate people looking for help. I've even seen people standing at store entry doors, trying to sell their family dog for a few bucks, because they can't afford to feed that animal any more.

These are hard times in America. (Personally, I think the real unemployment rate is more than 15%.)

December 16 2013 at 3:17 PM Report abuse +1 rate up rate down Reply
Iselin007

They should replace the WTO with a World Wage Organization controlled by the working class to keep the greedy inline.

December 15 2013 at 1:10 PM Report abuse rate up rate down Reply
Iselin007

There is a near endless supply of people who need employment they can harrass the applicants and mistreat who they hire. With failing corporations and shifts in employment due to outsourcing the stability of the American Dream far from stable. Change is not always good especially if the change is for the worst. When they can give you a hard time then husher in undocumented aliens through the back door with little or no question your just wasting your time.

December 15 2013 at 1:00 PM Report abuse rate up rate down Reply
Iselin007

You know if you speak the truth some times those with the power will igor nor you for it will spoil their plans of achieving a lie that benefits them. If you do what they say they will then hold it against you to achieve their goals of perpetuating a lie. You can't win my friends for the evil is so great only the messiah can remove that evil.



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December 15 2013 at 12:46 PM Report abuse rate up rate down Reply
biznesspf

What a joke. Unemployment is closer to 12-15% but they just lie about the numbers and that whole scam about dropping people off of the unemployment list when they stop looking for work and other reasons. Then we have the phenomenon of government jobs being added. That is detrimental to the creation of private sector jobs. Why? Because they get excellent salaries and incredible retirement benefits and create nothing. Most of them exist for the purpose of redistributing income, taking it from the taxpayers and using it a lot of useless programs that contribute nothing to society.

December 13 2013 at 11:38 AM Report abuse +1 rate up rate down Reply
1 reply to biznesspf's comment
Iselin007

If unemployment was so low their would be a rush to train people on the job and wages would rise like never before.

December 15 2013 at 12:48 PM Report abuse rate up rate down Reply

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