Unemployment claims rise in late December

Unemployment claims rose slightly in December.

The level of unemployment claims increased slightly during the final days of 2012, which may concern some commercial property managers looking to fill property.

The initial unemployment claims rate for the week ending December 29 was 372,000, which was 10,000 higher than the week previous, according to the Department of Labor's Unemployment Insurance Weekly Claims Report. There was also an increase in the four-week moving average, as it rose 250 to a rate of 360,000.

However, the increases were low enough that significant issues may not arise in the near future.

"The underlying claims trend is still really low," Scott Brown, chief economist at Raymond James & Associates, told Bloomberg. "There's a lot of volatility this time of year. Job destruction is really not a problem right now, it's really hiring that’s the issue."

The report added that the insured unemployment rate was 2.5 percent during the week ending December 22, which was no different from the week previous. Additionally, the insured unemployment advance number for that week was 3,245,000, 44,000 higher than one week earlier.

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