Jobless claims rose last week
Initial claims for jobless benefits rose last week by 6,000, the Bureau of Labor Statistics announced today, a rise economists were not expecting and a further sign that the labor economy is starting to slow.
Economists surveyed by Bloomberg had predicted initial claims would drop to 375,000, but instead claims rose to 386,000 from a revised rate of 380,000 for the previous week.
The four-week moving average, an indicator less volatile than the weekly report, increased by 4,000.
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