Initial Jobless Claims Rose Last Week

Washington, DC, Jan. 26, 2012 -- New applications for unemployment benefits rose last week, according to the Labor Department.

Jobless claims climbed by 21,000 to a seasonally adjusted 377,000 in the week ended Jan. 21. Economists had estimated claims would climb to 373,000.

The number is still consistent with modest job growth.

The number of claims often gyrate in January due to the end of temporary jobs created during the holiday season. Claims totaled 402,000 in the first week of January and sank to 356,000 two weeks ago.

The average of four-week claims fell slightly, down 2,500 to 377,500.