Instant view: Jobless claims rise in latest week

NEW YORK (Reuters) - Claims for jobless benefits rose in the latest week to 377,000, above the consensus forecast for 370,000 and the previous week's 356,000.

New orders for manufactured goods rose more than expected in December on strong demand for aircraft, while a rebound in a gauge of business spending plans suggested investment closed the year on the upswing.

COMMENTS:

JOSEPH GRECO, MANAGING DIRECTOR AT MERIDIAN EQUITY PARTNERS IN NEW YORK

"Initial claims were pretty much in line with estimates, so that's not a surprise. Continuing claims were a little higher, and that's something to watch. We want to see continuing ones dwindle alongside initial claims.

"The data won't move the needle, because earnings are clearly the focus and everyone is content with the language the Fed used yesterday. That will keep the equity market on the rise."

VIMOMBI NSHOM, ECONOMIST, IFR ECONOMICS, A UNIT OF THOMSON REUTERS

"As expected, the seasonally adjusted value counting first claims to receive unemployment benefits corrected upwards in the week ending January 21, to 377,000 from 356k in the week prior. Last week's report showed claims had slid 50k to 352k (now a decline of 46k), as NSA claims came down from the seasonal peak usually hit in the first week of a new year much faster than seasonal factors anticipated. Today's report shows an increase of 21k over the week as unadjusted claims continued to dissipate, but since a large deceleration in layoffs occurred in the week prior, this reference week did not resemble as much of the 'correction' (a slowdown in claims after the spike at year's beginning) as seasonally predicted (expected decline of nearly 26% and got one of 21%). The market knew the hefty drop was not permanent, with forecasts of claims to rebound to 380k."