New Claims for Jobless Benefits Increase

The number of Americans claiming first-time jobless benefits rose last week, and the volume of help-wanted advertising edged lower in December, according to key surveys. However, long-term trends in the indicators continued to reflect a healthy labor market. The Labor Department said claims in the week ended Jan. 25 advanced to 351,000 from a revised 341,000 a week earlier. Wall Street economists had forecast an initial jobless claims figure of 348,000 in the Jan. 25 week. The more closely watched four-week moving average, which smooths out weekly fluctuations in the data, fell to 344,750 from a revised 350,250. Separately, the Conference Board said its U.S. help-wanted advertising index fell to 85.0 in December from a revised 87.0 in November. The private business group said the index remained in a range of about 85 to 90 throughout 1995 and 1996, reflecting an average of 230,000 net new jobs per month during the two-year period.