There were an estimated 372,000 first-time claims for unemployment insurance last week, up by 4,000 from the week before, the Employment and Training Administration reports.
Another way of measuring, to show the recent trend, also rose: “The 4-week moving average was 368,000, an increase of 3,750 from the previous week’s revised average of 364,250.”
Overall, what we’ve said the past two weeks still applies:
“Claims have stayed in a range between 350,000 and 400,000 all year. The unemployment rate, meanwhile, has also varied little: it’s low this year has been 8.1 percent and the high has been 8.3 percent.”
Reuters’ analysis also sounds familiar: “The number of Americans filing new claims for jobless benefits unexpectedly rose last week, suggesting the labor market is healing too slowly to make much of a dent in the unemployment rate.”