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Jobless claims jump

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Jobless claims jump

New claims top 300,000 for the first time since early September.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended November 22 were 313,000, an increase of 21,000 from the previous week's figure.

Analysts had expected a decrease to 288,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 1,750 to 287,500.

Even though claims increase unexpectedly, most economists believe that the underlying jobs market continues to slowly rebound in the US.

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