The number of people seeking initial unemployment benefits rose last week to the highest level in nearly nine months, possibly reflecting volatility around the Thanksgiving holiday in late November, the government reported Thursday. Jobless claims increased 10,000 to 379,000 last week. It was the highest level since March and marked the second consecutive week that claims have risen. The four-week moving average of claims, which smoothes weekly fluctuations and is considered a better measure of labor-market trends, increased 13,250 to 343,500. Applications for unemployment benefits are a gauge of layoffs. Last month, they fell to the lowest level in six years, as companies cut fewer jobs. But two weeks ago, claims jumped 64,000 to 369,000. Economists dismissed the spike, saying it likely reflected a Thanksgiving holiday that was later in the month, which can distort the government's seasonal adjustments. However, if the trend continues, it would be a troubling sign of rising layoffs. Hiring has been healthy for the past four months. The economy added an average of 204,000 jobs per month from August through November, a solid improvement from earlier in the year. The national unemployment rate fell in November to a five-year low of 7 percent.
