Jobless Claims in U.S. Rose 38,000 Last Week to 368,000
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Claims for U.S. unemployment benefits increased more than forecast last week, nearly erasing a slide in the prior two weeks and reflecting the difficulty of adjusting the figures for swings at the start of a year.
Initial jobless claims rose 38,000 in the week ended Jan. 26, the most since Nov. 10, to 368,000, the Labor Department reported today in Washington. Economists forecast 350,000 filings, according to the Bloomberg survey median. The increase followed a combined 45,000 drop in the prior two weeks.
“It looks like the underlying trend in claims is just stable at around 360,000, which is where we were for much of 2012,” said Ryan Wang, an economist at HSBC Securities USA Inc. in New York, who projected 367,000 filings. “Today’s increase in claims I think is evidence that the low readings from early January were distorted.”
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