Weekly jobless claims up 2.6%, first increase in a month
Initial jobless claims rose for the first time in a month last week with a 2.6% increase to 465,000, which is higher than consensus analysts' estimates. The Labor Department said the unadjusted figure of actual initial claims for the week ended Sept. 18 increased by 12,000 from the previous week's revised figure of 453,000. Analysts surveyed by Econoday were projecting claims to remain flat with the prior week at 450,000 with a range of estimates between 445,000 to 475,000. A Briefing.com survey expected last week's figure to come in at 440,000. And economists polled by MarketWatch put the number at 455,000. The four-week moving average of 463,250 claims down less than 1% from the prior week's revised average of 466,500, according to the Labor Department data. The seasonally adjusted insured unemployment rate remained relatively flat with the prior week at 3.5%, down slightly from a revised 3.6%. The number of continuing claims, or claims by people for more than one week, decreased by 48,000 for the week ended Sept. 11 to nearly 4.49 million from a revised 4.54 million. The Labor Department reports continuing claims with a one-week lag. Write to Jason Philyaw.