Unemployment Benefits, U.s. Economy | featured news

The number of Americans applying for unemployment benefits rose last week by 17,000, reversing four weeks of declines. But the number of people seeking aid is consistent with a job market that continues to grow modestly. Unemployment claims rose the week of Dec. 15 to a seasonally adjusted 361,000 from a revised 344,000 the week before. The less-volatile four-week moving average fell 13,750 to 367,750, lowest since late October. Applications had surged in early November after Superstorm Sandy, then dropped back. (MORE: Weekly U.S.

Superstorm Sandy drove the number of people seeking unemployment benefits up to a seasonally adjusted 439,000 last week, the highest level in 18 months.

The number of people seeking unemployment benefits fell last week by 8,000 to a seasonally adjusted 355,000, a possible sign of a healing job market. But officials cautioned that the figures were distorted by Superstorm Sandy.

First-time claims for unemployment benefits continued their recent roller-coaster ride last week with the second big drop in the last month, but economists said the overall trend is consistent with moderate -- though not great -- job growth.

Weekly applications for U.S. unemployment benefits jumped 46,000 last week to a seasonally adjusted 388,000, the highest in four months. The increase represents a rebound from the previous week's sharp drop. Both swings were largely due to technical factors.

Fewer Americans applied for unemployment benefits last week, and a private survey showed businesses stepped up hiring in August. The data sketched a brighter outlook for the job market one day before the government reports on August employment.

The number of Americans seeking unemployment benefits was unchanged last week at a seasonally adjusted 374,000, suggesting slow improvement in the job market.

The Senate vote unanimously on Wednesday to extend aid for jobless workers and broaden tax breaks for homebuyers and businesses in a bid to breathe life into the struggling US economy.