Initial Jobless Claims Rise Unexpectedly

Reuters

New U.S. claims for unemployment benefits surprisingly rose last week to their highest level since January in a sign an anticipated recovery in labor markets may take time, a government report showed on Thursday.

Initial claims for state unemployment benefits jumped 25,000 to a seasonally adjusted 429,000, up from a slightly upwardly revised 404,000 the preceding week, the Labor Department said.

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Economists polled by Reuters were expecting claims to slip to 392,000 from the previously reported 403,000.

Jobless claims below 400,000 are associated with steady job growth.

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