US Jobless Claims Rise

Posted December 29th, 2011 at 12:20 pm (UTC-5)
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The number of Americans signing up for unemployment compensation rose last week, an exception to the generally improving trend in the U.S. job market.

Thursday's report from the Labor Department says first-time jobless claims rose 15,000 to a nationwide total of 381,000.

But economists say averaging unemployment claims over a four-week period gives a more accurate picture of the economy. By that measure, jobless claims are at the lowest level in more than three years.

Experts say a decline in layoffs may be a step toward increased hiring.

The U.S. unemployment rate comes from a different study, and that data will be published on January 6th. Economists surveyed by the Bloomberg financial news service say the jobless rate might rise slightly from November's 8.6 percent. They also predict the data will show that the U.S. economy had a net gain of 150,000 jobs in December.

A separate report from a business group shows activity in the Chicago area grew a bit more slowly in December. But the data from the Institute for Supply Management still showed business growing in that economically important area for the 27th month in a row.