The number of Americans seeking jobless benefits rose more than expected last week, as claimants unable to file during the June 11 funeral for President Ronald Reagan lodged delayed applications, the government said on Thursday.
First-time claims for state unemployment insurance rose 13,000 to 349,000 in the week ended June 19, from 336,000 the prior week, the Labor Department said. Wall Street economists had forecast a smaller climb to 340,000 new claims.
A Labor Department spokesman attributed a portion of the rise to the filing of applications delayed by the closure of government offices for a national day of mourning for Reagan the week before.
The U.S. labor market has been improving in recent months, at last showing the effects of a pick-up in the overall economy. However, jobless claims have been volatile.
The four-week moving average, considered by many economists to be a more accurate barometer of labor trends because it irons out the weekly fluctuations, edged up slightly to 344,250 from 343,250 the prior week. That was well below the 421,500 registered in the same period a year ago, the department said.
The ranks of unemployed workers drawing benefits for more than a week climbed a steep 75,000 to 2.97 million in the week ended June 12, the latest week for which data are available, but that too was well below 3.66 million in the same period a year ago.