More Americans than forecast filed applications for unemployment benefits last week, adding to concern the labour market is slackening.
Jobless claims decreased by 3,000 in the week ended Sept. 15 to 382,000, U.S. Labor Department figures showed today in Washington. The median forecast of 49 economists surveyed by Bloomberg projected 375,000.
Looming tax increases and government spending cuts slated to take effect next year, should lawmakers fail to act, may block any pickup in hiring following last month’s smaller-than-projected gain in payrolls. The Federal Reserve last week undertook a third round of asset purchases in a bid to reduce joblessness that has held above 8% for more than three years.
Estimates in the Bloomberg survey ranged from 360,000 to 390,000. The U.S. Labor Department revised the previous week’s figure to 385,000 from an initially reported 382,000. Last week’s data covered the period surveyed by the government to calculate the September employment data.
A department spokesman said there was nothing unusual in the state data last week. States and territories that reported an increase in claims as a result of Tropical Storm Isaac two weeks ago, including Louisiana and Puerto Rico, didn’t indicate the weather had any influence last week, the spokesman said as the data was released to the press.
The spokesman also said there was no indication the teachers strike in Illinois had any influence.
The four-week moving average, a less volatile measure than the weekly figures, climbed to 377,750 last week from 375,750.
Today’s report showed the number of people continuing to receive jobless benefits dropped by 332,000 in the week ended Sept. 8 to 3.27 million.
The continuing claims figure does not include the number of Americans receiving extended benefits under federal programs.
Those who’ve used up their traditional benefits and are now collecting emergency and extended payments decreased by about 60,700 to 2.16 million in the week ended Sept. 1.
The unemployment rate among people eligible for benefits held to 2.6%, today’s report showed.
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