US Weekly Unemployment Claims Suddenly Increase
According to the Labor Department, U.S. jobless claims pointed at rise last week after three weeks of declines. Still, labor market remained tight. Initial claims for state unemployment benefits were up 3,000 to a seasonally adjusted 213,000 for the week ended Aug. 25. The Reuters projection suggested growth to 214,000.
The 4-week moving average of initial claims reduced 1,500 last week to the 49-year minimum of 212,250. The amount of citizens that got pensions after initial week of help dropped 20,000 to 1.71M for the week ended Aug. 18. The 4-week moving average of continuing claims lowered 4,500 to 1.73M. The unemployment rate was at 3.9% in July.