Jobless claims ticked over 400,000 to reach 401,000 last week, an increase of 6,000 claims from the previous week’s revised figure of 395,000, the Labor Department said.
The 4-week moving average was 414,000, a decrease of 4,000 from the previous week.
This rise was less than expected; last week, when claims fell below 400,000, a Department of Labor spokesperson blamed “technical issues” for the lack of claims filed, which should have implied that claims this week would rebound even higher. Economists polled by Reuters had predicted claims would hit 410,000.
The economy probably added about 60,000 jobs in September after a completely flat August; that’s according to surveys of economists by both Reuters and Bloomberg. The official figure is due out tomorrow.