Weekly jobless claims rise to 367,000 from 363,000

Weekly jobless claims rise to 367,000 from 363,000 - MarketWatch

The number of people who applied for U.S. unemployment benefits rose to a seasonally adjusted 367,000 in the week of Sept. 23- 29, the Labor Department said Thursday. Economists surveyed by MarketWatch expected claims to rise to 370,000. Initial claims from two weeks ago were revised up to 363,000 from an original reading of 359,000, based on more complete data collected at the state level. The average of new claims over the past month, meanwhile, was unchanged at 375,000. The four-week average reduces seasonal volatility in the weekly data and is seen as a more accurate barometer of labor-market trends. Also, Labor said continuing claims held steady at a seasonally adjusted 3.28 million in the week ended Sept. 22. Continuing claims reflect the number of people already receiving jobless benefits. About 5.1 million people received some kind of state or federal benefit in the week ended Sept. 15, down 85,386 from the prior week. Total claims are reported with a two-week lag.