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Jobless claims jump

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Jobless claims jump

Largest weekly increase in 4 months.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended January 10 were 316,000, an increase of 19,000 from the previous week's revised figure.

Analysts had expected a decrease to 291,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 6,750 to 298,000.

While claims increased last week, the 4-week moving average has remained below 300,000 for 18 straight weeks, suggesting continued improvement in the labor markets.

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