Jobless Claims Rose By More Than Forecast; Seasonal Work To Blame

Jobless claims last week rose unexpectedly to nearly 400,000 applications from unemployed Americans, after weeks of slowly declining claims hinted at an improving economy.

Economists had forecast claims would hit 375,000, but claims rose to 399,000, the highest number since November.

Meanwhile, for the week ended Dec. 24 (the most recent week data were available), 3.7 million Americans were receiving unemployment checks and an additional 2.9 were receiving emergency extended benefit checks.