US Weekly Jobless Claims Touch Highest Level Since July

New applications for US unemployment benefits jumped by 20,000 to 287,000 in the seven days ended Dec.26. Economist agree with the Labor Department, and it is not atypical for jobless claims to rise during the last week of December.

With the bigger than expected increase, jobless claims rose to their highest level since hitting 296,000 in the week ended July 4th.

The four-week moving average was 277,000, an increase of 4,500 from the previous week\'s 270,750. The advanced seasonally-adjusted insured unemployment rate was 1.6% for the week ended December 19, which remained unchanged, compared to the previous week's unrevised rate. Before adjusting for seasonal variations, the increase in claims last week was about typical for this time of year, the agency spokesman said. Mike Englund, chief economist at Action Economics LLC in Boulder, Colo., who correctly projected the jump, said "We do have to discount the heightened volatility we have around this time of the year".

An official report says the number of Americans filing for United States unemployment insurance benefits has jumped to a almost six-month high during the Christmas holiday season. "These data indicate that, at least from the separations side, the labour market remained strong to the very end of the year".

"Over the past 12 months, the number of people receiving benefits has fallen 7.1 percent to 2.2 million". The unemployment rate is around 5% in November. "There will be continued slow improvement in the labour market". Employers added 210,000 jobs a month in 2015.

• Jammu and Kashmir Chief Minister condoles Ramban fire deaths

• Donald Trump Hammers Away at "Weak" Hillary Clinton Over Her Debate Comments

• Superior Mayor Hagen to Meet with Twin Ports Muslims