WASHINGTON – Filings for United States unemployment benefits rose to a four-week high, another sign of potential labor market weakness ahead of the monthly jobs report Friday. Claims remain near historically low levels.
Jobless claims rose 4,000 to 219,000 in the week ended Sept. 28, according to Labor Department figures released Thursday that exceeded the estimate in Bloomberg’s survey of economists. The four-week average, a less-volatile measure, held at the lowest in about two months while continuing claims fell to the lowest in almost a year.
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- The third-straight rise in claims shows that a slowdown in manufacturing amid lower global demand and investment may be spreading into the labor market. At the same time, claims remain at tight enough levels to indicate still- solid employment, and the strike by General Motors Co. workers may have played a role.
- The GM strike, which began Sept. 15, may have pushed up the number of people seeking benefits. Striking workers are generally not entitled to receive unemployment benefits, but still may file to receive them. Related industries and firms may have also felt the impact with about 46,000 union employees are on strike across several states.
- The Labor Department’s September jobs report due Friday is forecast to show hiring rose in the month, though overall continues to trend down amid slower global demand.
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- Continuing claims, reported with a one-week lag, fell 5,000 to 1.65 million in the week ended Sept. 21, the lowest level in nearly a year.
- The unemployment rate among people eligible for benefits held at 1.1%.
- Economists surveyed by Bloomberg had forecast that claims would rise slightly to 215,000.
Katia Dmitrieva is a reporter for Bloomberg News.
