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DJ US Jobless Claims +34K To 357K In Nov 25 Wk; Survey -3K

11/30/2006
Dow Jones News Services
(Copyright © 2006 Dow Jones & Company, Inc.)



(MORE TO FOLLOW) Dow Jones Newswires

11-30-06 0830ET

Copyright (c) 2006 Dow Jones & Company, Inc.

*DJ US Nov 18 Week Continuing Claims +45K to 2,480



(MORE TO FOLLOW) Dow Jones Newswires

11-30-06 0830ET

Copyright (c) 2006 Dow Jones & Company, Inc.

*DJ Labor Dept: Harder To Gauge Seasonal Factors At Holidays



(MORE TO FOLLOW) Dow Jones Newswires

11-30-06 0830ET

Copyright (c) 2006 Dow Jones & Company, Inc.

DJ US Jobless Claims +34K To 357K In Nov 25 Wk; Survey -3K



By Rebecca Christie
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--U.S. jobless claims rose unexpectedly last week, a rise that the Labor Department said may be due to seasonal variations that are common to the holiday season in the last weeks of the calendar year.

Jobless claims increased by 34,000 to 357,000 in the week ending Nov. 25, the Labor Department said Thursday. New claims for the previous week were revised to 323,000 from a previously reported 321,000.

The median estimate of 12 economists surveyed by Dow Jones Newswires had expected a decrease of 3,000 claims last week.

Labor Department officials said that seasonal factors contributed to last week's rise in unemployment claims. When not adjusted for seasonal variations, jobless claims fell last week, but they did not fall as much as the Labor Department's model predicted -- thus, claims rose after they were seasonally ajdusted. But holidays make it harder to predict seasonal variations.

The four-week moving average of new claims, which smooths out weekly fluctuations, increased by 7,250 to 325,000. This is the highest level since June 3.

According to the latest data, unemployment claims have risen two weeks in a row. If this trend continues, it could point to some softening in employment after robust gains in recent months.

The number of workers drawing unemployment benefits for more than a week rose in the week ending Nov. 18, the latest week for which such data are available. These continuing jobless claims increased 45,000 to 2,480,000, the highest since early September.

The jobless rate for workers with unemployment insurance was 1.9%, unchanged from the previous week.

In all, 51 states and territories reported an increase in jobless claims for the week ending Nov. 18, and 2 reported a decrease. California and Illinois had the largest rise, reporting increases of 9,949 and 9,309, respectively. Mississippi had the largest decrease, reporting a drop of 365 new claims.
 
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