New claims for US unemployment insurance rose slightly for the second straight week, the government reported Thursday, a day ahead of the November jobs market data.
The number of people registering for jobless benefits rose to 402,000 in the week ending November 26, the Labor Department said. The department upwardly revised the prior week’s number to 396,000 claims.
Most analysts expected claims to fall last week amid an easing trend in the weekly data. The four-week moving average, which helps to smooth volatility, rose by only 500 from the prior week to 395,250.
The sluggish US economy is not growing enough to make a significant reduction in high unemployment as the labor force continues to expand. But the claims numbers suggested the ailing labor market has stabilized.
On Friday, economists expect the Labor Department will report the unemployment rate was unchanged at 9.0 per cent for the second month running in November. Since May 2009 the jobless rate has been stuck at 8.8 per cent or higher.
Most analysts expect the Friday data will show that the economy generated a net 123,000 jobs in November: 141,000 from the private sector offset by a net 18,000 layoffs in the public sector.
Washington, Dec 1, 2011 (AFP)
