New Jobless Claims Rise for a Third Week

New claims for state unemployment benefits remained at the highest level in a month, suggesting the nation’s labor market still is struggling. The number of workers filing new claims for the insurance jumped 8,000 to a seasonally adjusted 419,000 for the week ended May 26, the Labor Department said.

The increase was the third in a row, keeping claims at their highest level since April 28, when they shot up to 425,000. The four-week moving average, which levels week-to-week fluctuations, slipped 1,500 last week to 402,500, the lowest level since April 21.

Jobless claims for the previous week were revised to show a larger increase than had been reported, rising by 19,000 to 411,000. The government had reported that initial claims increased 15,000 to 407,000.

Many economists have predicted that today’s report on the nation’s unemployment rate for May will tick up from April’s posting of 4.5%, stoking recession worries.