MW:U.S. jobless claims rise to 414,000 from 412,000
By Jeffry Bartash
WASHINGTON (MarketWatch) - Applications for unemployment compensation rose to 414,000 last week from 412,000, the U.S. Labor Department said Thursday. Economists surveyed by MarketWatch forecast claims to rise to a seasonally adjusted 411,000 in the week ended Sept. 3. Initial claims for two weeks ago were revised up from an original reading of 409,000. A government official said last week's hurricane in the Northeast appeared to have little effect on claims, but data for four states including California and Virginia had to be estimated because of the Labor Day holiday. The average of new claims over the past four weeks, meanwhile, rose by 3,750 to 414,750, the highest level since mid-July. The monthly average is seen as a more accurate gauge of labor trends because it smoothes out volatility in the week-to-week data. About 7.17 million people received some kind of state or federal benefit in the week of Aug. 20, down 167,009 from the prior week. In addition, the number of Americans who continue to receive benefits through regular state unemployment programs fell by 30,000 to 3.72 million in the week ended Aug 27.
