By Geoffrey Smith
Investing.com — The variety of individuals claiming unemployment advantages for the primary time rose to a 10-week excessive final week, an indication that the labor market could also be dropping its means to defy gravity.
The Labor Division mentioned rose to 211,000 final week, from 190,000 the week earlier than. Analysts had anticipated solely a small uptick to 195,000.
The much less risky four-week common, arguably a greater indicator of the development, additionally rose to a six-week excessive of 197,000
On the identical time, persevering with jobless claims additionally stunned to the upside, rising to 1.718 million and matching a 14-month excessive.