If the notion that US economy is modestly growing widespread then it is probably true as far as employment situation and jobless claims are concerned. US jobless claims increased by 4,000 in the first week of 2013 as announced by the US Labor Department in the latest report. Initial jobless claims stood at 371,000 for the week ending January 5^th 2013 depicting slow but steady growth in the economy.

Though economists forecasted the decrease of 365,000 in jobless claims and this is also highest gain in month still I wouldn’t be alarmed on that. Jobless claims figures do show high volatility during holiday season and in early January and economists usually discount the data in the end of the month. Data from two weeks ago was also revised to 367,000 from the initial report of 372,000. However, one-month average number of claims which is taken as more accurate figure showed the gained of 6,750 jobless claims to 365,750.

Analysts were also of the opinion that the jobless claims in this range indicate moderate job create which is good considering the current economic situation. In fact employment rate and job creation has been improved in constant rate in last two year. If we analyze the situation since the start of the year 2011, almost 153,000 net jobs have been added every month. Another figure to notice here is that in the week ending December 29^th, jobless claims decreased by 127,000 for the year to seasonally adjusted figure of 3.1 million this is also the biggest decline in one year.

In the future, economists also foresee that employment situation will improve on a moderate pace as Democrats and Republicans are arguing over US debt ceiling and cuts in defense and domestic spending.