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U.S. Jobless Claims Rise Slightly
Published in Saudi Press Agency on 10 - 01 - 2013

The number of people filing new claims for unemployment benefits rose slightly last week, the U.S. government reported Thursday, but seasonal volatility makes it difficult to get a clear picture of the health of the labor market.
The Labor Department said initial jobless claims rose 4,000 to 371,000, the most in five weeks. The four-week moving average, considered a better gauge of labor-market trends, increased 6,750 to 365,750 after dropping to a four-year low the previous week.
Jobless claims are volatile at this time of the year because of the holidays and seasonal layoffs. While claims increased last week, there was nothing in the data to suggest a deterioration in labor-market conditions, department analysts said.
According to the report, the number of people receiving benefits under regular state unemployment programs fell 127,000 to 3.11 million last week, the lowest level since July 2008. The weekly decline was the biggest in a year.
The labor market has been gradually improving, with job gains last year averaging 153,000 per month, little changed from 2011. However, job creation has not been strong enough to significantly reduce the unemployment rate, which ended 2012 at 7.8 percent.


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