U.S. Jobless Claims Exceed Expectations

More people than expected filed new claims last week for unemployment benefits in the U.S., evidence that companies aren’t confident enough about the recovery to increase payrolls.

States received 389,000 initial applications, down from 391,000 the previous week, the Labor Department said. Economists had expected claims to fall to 385,000.

The four-week average of initial claims rose last week to 388,250, the highest since 392,000 in the week ended July 13.