U.S. jobless claims rise

U.S. initial jobless claims rose more than expected last week.

The Labour Department said Thursday the number of newly laid-off workers requesting benefits rose by 11,000 to a seasonally adjusted 444,000, a sign that jobs remain scarce.

Many economists had expected an increase of only 3,000. Economists watch initial claims as sign of companies' willingness to hire new workers.

The size of the increase was a result of large-scale layoffs in the retail, manufacturing and construction industries during a time of year when activity tends to slow, once the holiday retail season has ended, a Labour Department analyst said.

Still, the overall trend is showing a drop in claims. The four-week average fell to 440,750, its 19th straight drop and its lowest level since August 2008.