Initial claims for state unemployment rose 32,000 to 493,000 in the Sept. 20 employment survey week, as claims resulting from Hurricane Gustav pushed the total up by about 63,000, the Labor Department reported yesterday.
This week’s reading was the highest since Sept. 29, 2001, when claims hit 517,000. Economists polled by Thomson Reuters expected 445,000 claims in the week.
The four-week moving average rose 16,000 to 462,500 in the Sept. 20 week.
Continuing claims for the Sept. 13 week increased by 63,000 to 3.542 million after dropping 53,000 in the previous week.
The four-week average for continuing claims rose 28,000 to 3.489 million in the Sept. 13 week.
