Jobless Claims Surge on Seasonal Factors By Nancy Waitz WASHINGTON (Reuters) - Initial U.S. jobless claims surged unexpectedly last week by 43,000, taking claims to their highest level since late September, a government report showed on Thursday -- but an official noted there were seasonal adjustment difficulties. The number of Americans making first-time claims for state unemployment insurance benefits rose to 364,000 in the week ended Jan. 1, up from a revised 321,000 in the previous week, the Labor Department said. It was the largest one-week gain since a 62,000 jump in the week ended March 30, 2002, and far surpassed Wall Street expectations for a rise to 331,000 from the originally reported 326,000 in the prior week. But a Labor Department analyst said the rise was pumped up more than expected because season adjustments were unable to account for the holiday-shortened week, and there was little market reaction to the data. The benchmark 10-year U.S. Treasury note was up 1/32 to yield 4.279 percent, while the dollar shaved some gains against the euro. Analysts said the weekly data had little impact because markets were expecting the volatility. "This week was the end of New Year's Eve and we always have trouble adjusting for holidays. This year Christmas was also on a weekend," said Anne Parker Mills, head of foreign exchange research at Brown Brothers Harriman in New York. "If you look at the four-week moving average, the level remains consistent with comfortable gains in the jobs number. It does not do anything to change consensus expectations for a gain of 175,000 jobs tomorrow," Mills said. The closely watched four-week moving average of claims, which smoothes weekly volatility, climbed to 333,000 from 332,250 in the prior week. The Labor Department's December employment report, due for release on Friday, is expected to show 175,000 jobs were created last month after November's 112,000 gain. The unemployment rate is expected to be unchanged at 5.4 percent. The claims report also showed the number of people who remained on the benefit rolls after claiming an initial week of aid climbed 61,000 to 2.84 million in the week ended Dec. 25, 2004, the latest for which figures are available. JINGLE JINGLE     Continued ... Quelle "Jobless Claims Surge on Seasonal Factors" : reuters.com Main page for "Jobless Claims Surge on Seasonal Factors"