The number of people filing initial applications for U.S. state unemployment benefits rose last week by the largest amount in eight months but remained at levels consistent with a healthy labor market, the government reported Thursday. The Labor Department said jobless claims rose 16,000 to 276,000 last week, in the biggest increase since late February. Still, claims hovered near 42-year lows for much of October, and last week was the 35th consecutive one that claims were below 300,000, a level associated with a strong jobs market. The four-week moving average of jobless claims—a less volatile measure considered to be a better indicator of labor-market trends—rose 3,500 to 262,750 last week. The measure has remained below 300,000 since late March. The report showed the number of people still receiving unemployment benefits increased 17,000 last week to 2.16 million, while the four-week average of continuing claims fell 11,500 to 2.16 million, the lowest level since late 2000. The trend in continuing claims suggests more long-term unemployed workers are finding jobs. The jobless-claims report has no bearing on the October job-creation report to be released Friday. Economists expect about 180,000 jobs were added last month, well above the average gain of 139,000 seen in September and August, and the unemployment rate held steady at 5.1 percent for a third consecutive month.
