The number of people seeking U.S. unemployment benefits rose sharply last week, reversing the previous three weeks of declines, but a recent strengthening of the labor market likely remains intact. The Labor Department said Thursday that initial jobless claims jumped 68,000 to 368,000, the biggest increase in a year. The less volatile four-week moving average of claims, considered a better indicator of labor-market trends, rose 6,000 to 328,750. Jobless claims fell for much of November, and the labor market is strengthening, with payrolls increasing solidly in November and October. The unemployment rate fell to a five-year low of 7.0 percent last month.
