WASHINGTON — The number of Americans filing new claims for unemployment benefits rose last week, the Labor Department said Thursday, but the data was too distorted by the holidays to offer a clear reading of labor market conditions.
Initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 372,000, the government said.
A Labor Department official said data for nine states, including California and Virginia, had been estimated last week because of the Christmas and New Year holidays. This suggested the numbers will be revised next week.
The prior week’s figure was revised to show 12,000 more applications than previously reported. Claims data reported for the week ended Dec. 22 had been artificially depressed by the holidays, which resulted in data for 19 states being estimated.
The four-week moving average for new claims, a better measure of labor market trends, rose 250 to 360,000. The claims data has no bearing on December’s national employment report, scheduled for release on Friday.
Employers are expected to have added 150,000 jobs to their payrolls last month, little changed from 146,000 in November, according to a Reuters survey of economists.
The claims report showed the number of people still receiving benefits under regular state programs after an initial week of aid increased 44,000 to 3.25 million in the week ended Dec. 22.
A separate report Thursday said that American private-sector employers added more new jobs than expected last month, helping the job market end 2012 on a high note.
The ADP National Employment Report showed the private sector added 215,000 jobs last month, comfortably above economists’ expectation of a 133,000 gain. The report is jointly developed with Moody’s Analytics.
“The underlying economy has momentum, and the employment data confirms that,” said John Brady, managing director at R.J. O’Brien Associates in Chicago. “The hope and prayer of the market is that our political leaders don’t screw it up.”
November’s private payrolls tally was also revised upward to show a gain of 148,000 from the previously reported 118,000.
Article source: http://www.nytimes.com/2013/01/04/business/economy/more-americans-seek-jobless-benefits.html?partner=rss&emc=rss
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