Initial jobless claims rose by 18,000 to a seasonally adjusted 409,000 last week, the Labor Department said today, just a day before the its December jobs report will be released.
Economists had expected claims to have risen to 400,000. The most recent data are likely more volatile than normal because of the Christmas and New Year's holidays, however.
Jobless claims peaked at 651,000 in March 2009 and have been treading between 400,000 and 500,000 since, with the exception of the week before last, when they fell below 400,000.
There was some better news in the four-week average, which smooths out weekly volatility: Those claims fell by 3,500 to 410,750, the lowest level since July 2008.
Economists and job seekers alike will be paying close attention to Friday's nonfarm payrolls report. The economy is expected to have added 170,000 jobs in December, up from a gain of 39,000 in November. The unemployment rate is expected to hold steady at 9.8%.
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