
IPFS News Link • Employment & Jobs
Jobless claims jump to 7-month high
• http://www.marketwatch.comThe number of Americans applying for unemployment benefits in mid-January reached seven-month highs, perhaps a sign that the rate of layoffs in the U.S. has risen slightly from record lows.
Initial jobless claims climbed a seasonally adjusted 10,000 to 293,000 in the seven days stretching from Jan. 10 to Jan 16, the government said Thursday. That's the highest level since last July.
What's more, the four-week average of initial claims rose by 6,500 to 285,000, the Labor Department said. The last time the more reliable monthly average was that high was last April.
Initial claims are still at very low levels — any number below 300,000 is viewed as evidence of a strong labor market. And other gauges such as the more valuable U.S. monthly employment report show that hiring is still going strong.
Still, initial claims have risen more than 14% after touching a post-recession low of 256,000 in early October.