The number of US workers applying for state unemployment benefits rose last week, the government said today in a report.
It showed a weak but improving employment market as the economy shows signs of recovery.
The number of workers filing initial jobless claims rose by 30,000 to a seasonally adjusted 390,000 for the week ended January 26th, from 360,000 a week earlier, the Labor Department said. That was closely in line with the 387,000 claims forecast by Wall Street economists in a Reuterspoll.
But in an indication the employment market is improving after being hit hard after the September 11th attacks, the four-week moving average, which smooths out weekly gyrations, fell by 15,250 to 386,000 claims in the latest week. That was the lowest level since August 18th of last year.
The weekly data, when left unadjusted for seasonal factors, also showed a better employment market picture with initial claims falling to 431,619 from 558,583 the previous week and falling well below levels seen during the comparable week last year.