The number of Americans newly filing applications for unemployment benefits rose slightly higher than expected, signaling further cooling in the U.S. labor market.
According to the Department of Labor, initial jobless claims increased by 8,000, to 237,000 for the week ended Aug. 30, the highest level since mid-June.
This is up from the previous week’s 229,000 and came in above the consensus estimate of 230,000.
The four-week average, which strips out week-to-week volatility in the claims data, edged up to 231,000 from 228,500.
A program for initial claims filed by federal workers declined by 73, to 515. Economists have been monitoring this program to determine if actions by the current administration are leading to a significant reduction in federal workforce numbers….