Jobless claims edge up to 402,000
Jobless claims for the week ending Nov. 26 edged up as 402,000 new unemployment filings came in, an increase of 6,000 from the previous week. Jobless claims for the week ending Nov. 26 edged up as 402,000 new unemployment filings came in, an increase of 6,000 from the previous week. Meanwhile, the week before had a revised jobless claim figure of 396,000 unemployment claim filings. The four-week moving average increased by 500 claims, hitting 395,750 filings. Last week, the number of jobless claims rose, but stayed below 400,000 for the fourth straight week. However, the week ending Nov. 26 marked a significant turn with new applications pushing filings above the 400,000-mark again. Jobless claims, which are a key indicator of economic growth in the private sector, are integral to the health of the housing market. Housing economists in 2011 began signaling the nation's high unemployment rate as a cause of lackluster growth in the nation's housing market. Without job creation and a lower unemployment rate, economists have said a full housing recovery is unlikely. Write to Kerri Panchuk.