U.S. Initial Jobless Claims Unexpectedly Rose for a Second Week

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U.S. Initial Jobless Claims Unexpectedly Rose for a Second Week
Credit: © Reuters.

(Bloomberg) -- Applications for U.S. state unemployment benefits unexpectedly rose last week, a sign of choppy weekly data as the labor market continues its broad recovery.

Initial unemployment claims in regular state programs rose to 351,000 in the week ended Sept. 18, Labor Department data showed Thursday. The median estimate in a Bloomberg survey of economists called for a decrease to 320,000 new applications.

Continuing claims for state benefits increased to 2.8 million in the week ended Sept. 11.

The rise in claims reflects the volatility in weekly data as the figure has broadly declined throughout the economic recovery.

Looking ahead, economic growth is expected to slow in the third quarter amid a pullback in stimulus spending. The end of federal pandemic benefits has not yet led to an increase in job applications, according to employers across industries.

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© Bloomberg. A worker puts down a table cloth at a restaurant in San Francisco. Photographer: David Paul Morris/Bloomberg

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  • Chandrakant Shah @Chandrakant Shah
    Good. More the job losses, that much merrier for the markets. Fed will never fed up printing and pumping alms
    Like 0
  • Ajay Uppal @Ajay Uppal
    Is the data really calculated correctly?
    Like 0

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