Jobless Claims Surge to 368,000; Biggest Jump In 9 Months
The expectation for this week's new applications for unemployment was 320,000. The real number, however, was 368,000, which Zero Hedge reports is the biggest jump in nine months. Overall, this is a rise of 68,000 claims over last week and an increase of 6,000 in the fout week average.
Reuters reports that this was the biggest jump in a full year. Other than signifying a real problem in the jobs market, another explanation is the kind of volatility that comes during the holiday season.
Last month the unemployment rate dropped to 7%.
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