Weekly Jobless Claims Rise
Initial jobless claims for the week ending Oct. 13 came in at 388,000, up 46,000 from the previous week, when some had heralded a relatively low number. Some analysts say the numbers from the most recent week and the previous one were skewed by start-of-quarter factors.
These newest numbers bump the four-week moving average up to 365,500, around 750 more claims than the previous average. According to economists, weekly initial claims of less than 400,000 serve as evidence of an improving labor market.
The week's 388,000 seasonally adjusted initial claims are down from the prior year's 402,000.
Federal government cuts continue to affect unemployment, with 16,900 former federal civilian employees and 38,500 newly discharged veterans claiming unemployment insurance benefits in the last week of September (the most recent available data).
The article Weekly Jobless Claims Rise originally appeared on Fool.com.Justin Loiseau has no positions in the stocks mentioned above. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.