The number of Americans filing for unemployment benefits rose more than expected last week, hitting the highest level in five months, the government said Thursday, but the underlying trend remained consistent with a healthy labor market. The Labor Department reported that initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 268,000 for the week ended November 26. That was the highest reading since June and marked the second consecutive week of increases. Claims for the prior week were unrevised. Despite the increase, claims remained below the 300,000 threshold, which is associated with a healthy labor market, for the ninety-first straight week. That is the longest run since 1970, when the labor market was much smaller. Economists had expected first-time applications for jobless benefits rising to 253,000 in the latest week. The four-week moving average of claims, which is considered a better measure of labor market trends, moved up 500 to 251,500 last week.
