Newspaper article THE JOURNAL RECORD

Jobless Claims Increase by 6,000

Newspaper article THE JOURNAL RECORD

Jobless Claims Increase by 6,000

Article excerpt

WASHINGTON (AP) _ The number of first-time claims for state unemployment benefits was up 6,000 last week as the hiring indicator continued its weekly roller coaster ride.

The Labor Department reported Thursday that initial jobless claims totaled a seasonally adjusted 322,000 in the week ended Dec. 3, up from a revised 316,000 the previous week. The figure for the week ended Nov. 26 was initially placed at 317,000.

Most economists expected an increase because the previous week included the Thanksgiving holiday and there were fewer days to file.

Initial claims have been up and down over the last six weeks and, indeed, for most of the year, with the longest streak of declines this year coming during the four weekly reporting periods in September.

The Labor Department reported that its four-week moving average of initial claims was down 2,750, a substantial change in an indicator that tends to show more modest movement. The average dropped to 323,000 from 325,750, the biggest decline since Oct. …

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