
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: FRIDAY, January 7, 1994                   TAG: 9401070098
SECTION: BUSINESS                    PAGE: A-5   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

JOBLESS CLAIMS TAKE BIGGEST JUMP SINCE JULY

WASHINGTON - The number of Americans seeking unemployment benefits for the first time leaped 70,000 last week, the government said Thursday in a report that shows the continued uncertainty of the nation's job market.

It was the steepest increase since July 1992 and the most first-time claims filed since July 24, 1993. Economists had expected a much smaller rise from the previous week, when the number of initial claims unexpectedly dropped to a nearly five-year low.

The Labor Department said a seasonally adjusted 363,000 people sought unemployment benefits for the first time in the week ended Jan. 1, up from a revised 293,000 the previous week. The previous week's figure included the Christmas holiday, which economists said likely contributed to the decline.

Also up was the four-week moving average of claims. That figure was 328,500, a more modest increase of 6,500 from the previous week's revised average of 322,000. The moving average, less volatile than the weekly number, is favored by economists as a more accurate measure of hiring trends.

Economists insist that despite the wide fluctuations in claims, the job market is steadily improving, led by hiring among smaller companies.

- Associated Press

by CNB