WASHINGTON — Initial claims for state unemployment benefits rebounded 15,000 to 444,000 in the Aug. 30 week, the Labor Department reported yesterday, citing “no special factors.”
Initial claims came above expectations in a Market News International survey, which had centered on 425,000. The previous week’s claims level was revised up to 429,000 from the originally reported 425,000.
For the week ended Aug. 30, the seasonal adjustment factor had expected a decrease of 1.0% or 3,400 in unadjusted claims, but they actually increased 2.4% or 8,300 to 353,501, a Labor analyst said. There were 257,454 claims in the comparable week a year earlier.
The four-week moving average fell 3,250 to 438,000 in the Aug. 30 week.
Continuing claims for the Aug. 23 week rose 6,000 to 3.435 million, their highest level since Nov. 8, 2003, when it was 3.441 million.
— Market News International