Unemployment benefit claims rose unexpectedly last week to the highest level since February 2015, deposits increased in New York .
Initial jobless claims rose by 20,000 to 294,000 the week ended May 7, a report from the Labor Department showed Thursday. The median forecast of economists surveyed by Bloomberg called for a drop to 270,000.
Economists continue to monitor claims data in the coming weeks before concluding that the job market takes a big step back.
"New York accounted for most of the increase," and was linked to the Verizon strike was concentrated in the state, said Jacob Oubina, a senior US economist at RBC Capital Markets LLC in New York. "It's not a clean play. The labor market is healthy enough research and that will continue. "
During 62 consecutive weeks claims have been below the 300,000 level that economists say is generally compatible with a market improvement work. This is the longest since 1973. applications for the previous week were unrevised at 274,000.
No states estimated deposits for unemployment benefits last week and there was nothing unusual in the data, according to the department Labour.
in New York, the jobless claims jumped by an unadjusted 14647 last weeks. smaller increases were reported in Pennsylvania and Michigan.
the four average week Mobile claims, a measure less volatile than the weekly figures, rose to 268,250 from 258,000.
continuing claims
the number of people still receiving benefits unemployment increased by 37,000 in the week ended April 30, the most since the end of November, to 2.16 million. The unemployment rate among people eligible for benefits held at 1.6 percent. These data are reported with a lag of one week.
Initial jobless claims reflect weekly firings them, and a low level supported applications has generally coincided with faster job gains. Layoffs can also reflect Company- causes or specific to industry, such as cost reduction or restructuring of the company.
A report last week showed that US employers added 0,000 workers to their workforce in April, the fewest since September and well below median forecast of economists.
another Labor Department report showed import prices rose 0.3 percent for a second month in April, reflecting largely a pickup in oil and the food. While industrial supply costs have increased, prices fell for consumption and goods manufactured abroad.
Bloomberg
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