U.S. Jobless Claims Hit Four-Week High With Surprisingly Strong Rise By Investing.com

Investing.com – The number of people who filed for first-time unemployment assistance in the U.S. rose by 6,000 last week to a four-week high of , in a possible sign that the country’s red-hot labor market may be cooling.

Economists had expected initial claims to rise by only 2,000 to 225,000.

The four-week moving average was , a decline of 2,500 from the previous week, the U.S. Department of Labor said. The monthly average is seen as a more accurate gauge of labor trends because it reduces volatility in the week-to-week data.

Continuing jobless claims rose to from 1,758,000, a thousand more than forecast.

Although February’s employment report showed a sharp slowdown in job creation, the American labor market still shows signs of strength with the jobless rate falling and wage inflation on the rise.

The latest Fed Beige Book noted that “employment increased in most Districts” and pointed to “notable worker shortages for positions relating to information technology, manufacturing, trucking, restaurants and construction”.

The National Federation of Independent Business said that job creation among small businesses broke a 45-year record in February.

“Owners are reporting increasing employment at their firms at the highest rates in survey history, now they just need workers to fill them,” NFIB Chief Economist Bill Dunkelberg said at the time.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.