Increase in U.S. Jobless Claims

Just one day before the release of the Non-Farm Payroll Report and an update to the nation’s unemployment rate, comes news that the number of Americans filing for unemployment benefits rose in the week ending November 26th. Jobless claims climbed by 6,000 to 402,000 Labor Department figures showed today in Washington.

“Companies are still in a mode of hiring based on absolute need,” said Russell Price, senior economist at Ameriprise Financial Inc. in Detroit. “They’re not adding a whole lot of workers for future growth. Employers are waiting to see what happens with the payroll tax cut.”

Source: Bloomberg

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