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VOL 23 NO 52 REGD NO DA 1589 | Dhaka, Staurday , January 2 2016
Posted : 02 Jan, 2016 21:52:57 AA-A+
Jobless claims rise sharply in US

NEW YORK,  Jan 2: The number of Americans filing new claims for unemployment benefits rose sharply last week.

Initial claims for state unemployment benefits rose 20,000to a seasonally adjusted 287,000 for the week ended Dec 26, the US Labour Department said on Thursday.

That was the highest since July, although in recent months the weekly readings for claims have held near a 42-year low.

Economists polled by Reuters had forecast claims rising to 270,000 in the latest week.

The US labour market heated up in 2015, enough for the Federal Reserve to raise interest rates on Dec. 16 for the first time in a decade, a milestone in the US recovery from the 2007-09 recession.

Many economists expect a slower pace of job market improvement in 2016 even as the unemployment rate falls further from its current 5 per cent. After dropping sharply for years, jobless claims have appeared to stabilise since the middle of 2015.

Last week’s data may have been distorted by the holiday period, although the Labour Department said there were no special factors influencing the numbers. The four-week moving average, which analysts follow closely because it smoothes out volatility, rose 4,500 to 277,000, according to a news agency.

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Jobless claims rise sharply in US | 24 News | The financial express