Initial Jobless Claims Unexpectedly Rise To 368,000

It’s Thursday, you know what that means.

Initial jobless claims unexpectedly jumped last week to 368,000.

Claims for U.S. unemployment benefits increased more than forecast last week, nearly erasing a slide in the prior two weeks and reflecting the difficulty of adjusting the figures for swings at the start of a year.

Initial jobless claims rose 38,000 in the week ended Jan. 26, the most since Nov. 10, to 368,000, the Labor Department reported today in Washington. Economists forecast 350,000 filings, according to the Bloomberg survey median. (Read More)

They’re blaming it on seasonal adjustments or something. No doubt the Democrats will come out and blame Republicans.