Filings for U.S. unemployment benefits rose for a third week to the highest level since May, potentially reflecting volatility around two consecutive periods that included holidays.
Figures from the U.S. Labor Department revealed Thursday that jobless claims increased by 10,000 to 234,000 in the week ended Nov. 24. The median estimate in an economist survey was for a decrease to 220,000. The four-week average, a less-volatile measure, rose to 223,250, the highest since July, from 218,500.
Analysts may discount the latest results for the weeks that included the U.S. Thanksgiving holiday on Nov. 22 and the observance of Veterans Day on Nov. 12, as filings tend to show swings around such events.
While applications for unemployment benefits are still hovering near historically low levels, further increases in weekly claims could signal a slowdown in the labour market.
