Jobless Claims Spike

    HOBOKEN, NJ - OCTOBER 30:  Taxis sit in a flooded lot after Hurricane Sandy October 30, 2012 in Hoboken, New Jersey. The storm has claimed many lives in the United States and has caused massive flooding across much of the Atlantic seaboard. U.S. President Barack Obama has declared the situation a 'major disaster' for large areas of the U.S. east coast, including New York City, with widespread power outages and significant flooding in parts of the city.  (Photo by Michael Bocchieri/Getty Images)

    Michael Bocchieri / Getty Images

    The Labor Department reported this morning that there were 439,000 initial jobless claims, a 78,000 increase from the previous week’s 361,000. These latest numbers stand out because the trend has been for claims to be holding steady or coming down; last week’s spike is almost certainly attributable to Hurricane Sandy. The four-week moving average of claims, which is less noisy than any new week of data, rose 11,750 to 383,750.

    Read it at Labor Department