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Jobless claims increase

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Jobless claims increase

Increase of 4,000 more than expected.

The Labor Department today reported that seasonally-adjusted initial claims for unemployment insurance for the week ended August 30 were 302,000, an increase of 4,000 from the previous week's figure.

Analysts had expected claims to come in at 300,000.

The 4-week moving average, which smoothes out volatility to a certain extent, increased 3,000 to 302,750.

While the increase in jobless claims was higher than expected, it is unlikely to undermine the general perception of a gradually strengthening jobs market.

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