In this Aug. 25, 2010 photograph, job seekers including Lindsey Wright, of Detroit, center, attend a job fair in Southfield, Mich. On Friday, Sept. 3, 2010, the Labor Department issued the August unemployment report. (AP Photo/Paul Sancy), a photo by Pan-African News Wire File Photos on Flickr.
Jobless claims surge to 368,000
Josh Boak, AP 9:16 a.m. EST December 12, 2013
WASHINGTON — The number of people seeking U.S. unemployment benefits rose 68,000 last week to a seasonally adjusted 368,000, the largest increase in more than a year.
The surge could be a troubling sign if it lasts. But it likely reflects the difficulty adjusting for delays after the late November Thanksgiving holiday.
The Labor Department says the less volatile four-week average rose 6,000 to 328,750. That is close to pre-recession levels and generally a positive sign for job gains.
Applications for unemployment aid are a proxy for layoffs. A steady decline over the past year suggests that fewer Americans have lost their jobs. Economists will track the next few weeks closely to see if that trend is reversing, or if the surge is a temporary blip caused by seasonal adjustments.
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