The Labor Department reported Thursday that new applications filed for jobless benefits rose by a seasonally adjusted 12,000 to 346,000. It was a larger increase than economists were expecting. They were forecasting claims to rise to 335,000 last week.
The four-week moving average of new claims for unemployment benefits rose by 4,250 to 343,000 last week, the highest level in two years.
Economic growth in the October-to-December quarter is expected to slow to a near crawl _ a pace of just 1.5 percent or less, according to economists' projections. The nation's unemployment rate, now at 4.7 percent, is expected to climb to 5 percent by early next year.
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