US Jobless claims cast cloud on labor market

Reuters – The number of Americans filing for jobless aid hit a two-month high last week and more applications were received in the prior week than initially reported, suggesting a cooling in the labor market recovery. Initial claims for state unemployment benefits increased 13,000 last week to a seasonally adjusted 380,000, the Labor Department said on Thursday, defying economists’ expectations of a drop to 355,000. The prior week’s count was revised to show 10,000 more applications than previously reported. Read Article