Unexpectedly, First-Time Jobless Claims Soar To 357,000

Increase is 34,000 from the previous week.

Layoffs in manufacturing and construction sent the number of first-time claimants for unemployment insurance soaring last week. For the week ending Nov. 25, initial claims were a seasonally adjusted 357,000, an increase of 34,000 from the previous week's revised figure of 323,000, the U.S. Labor Department reported on Nov. 30.

Last week's figure was significantly higher than the 317,000 claims economists generally expected.

The Labor Department's four-week moving index of initial claims also increased, rising to 325,000, an advance of 7,250 from the previous week's revised average of 317,750.

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