The number of Americans filing for unemployment benefits unexpectedly rose last week to a two-month high, interrupting a steady decrease to the lowest level since before the last recession.
Jobless claims climbed by 11,000 to 315,000 in the week ended Sept. 6, which included the Labour Day holiday, a U.S. Labor Department report showed today in Washington. It was the highest reading since June 28 and exceeded the Bloomberg survey median forecast of 300,000. The data are difficult to adjust during holiday periods, a department spokesman said as the figures were released.
Initial claims have been hovering near pre-recession lows as the labour market continues to gather strength on the heels of stronger demand. Bigger gains in hiring are probably needed to reduce slack in the labor market and prompt employers to boost wages, which could propel consumer spending.
Estimates from 48 economists in the Bloomberg survey ranged from 290,000 to 325,000 after a previously reported 302,000 a week earlier.
The four-week average of claims, a less-volatile measure than the weekly figure, increased to 304,000 from 303,250 the week before.
The number of Americans continuing to receive jobless benefits rose by 9,000 to 2.49 million in the week ended Aug. 30.
