The number of U.S. workers
filing new claims for state unemployment benefits rose more than
expected during the Christmas holiday week, reflecting a slowdown
in the economic recovery.
States received 403,000 initial jobless claims last week, up
from a revised 390,000 a week earlier, the Labor Department said.
Economists had forecast that claims would rise to 380,000.
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Companies have cut jobs as businesses control spending,
consumer confidence hangs near a nine-year low, and factories
become more efficient. The four-week moving average, which
smoothes weekly volatility, rose to 418,750, the highest in three
months, from 407,500. It was the third straight reading above the
400,000 mark that economists consider a weak labor market.
Bloomberg News
