Jobless Claims Jump Unexpectedly

The number of U.S. workers applying for state unemployment benefits unexpectedly rose last week, the government said Thursday. The increase in first-time jobless claims is the largest in nine weeks and a sign of slower job growth that could ease concerns of inflation-wary Federal Reserve Board policymakers.

First-time claims rose by 8,000 to a seasonally adjusted 315,000 for the week ended Saturday, the second consecutive weekly rise, the Labor Department said. That’s the highest level since the week ended Aug. 30, when claims totaled 325,000. Analysts’ had expected the number of new claims to hold steady at 306,000. Initial claims had remained below 310,000 for more than a month, the longest sustained run at that low level since 1988.

Claims increased by a revised 3,000 (from 2,000) in the previous week to 307,000. Meanwhile, the four-week average for jobless claims rose last week to 308,750 from 306,500 the previous week.