The report showed that 417,000 Americans filed new claims for unemployment insurance in the week ended August 20, an increase of 5,000 from the previous week's revised figure of 412,000 new claims.
Most economists had actually predicted a drop in new claims to 405,000 from the 408,000 originally reported for the previous week.
Labor Department officials noted that some of the increase was due to claims filed by striking Communications Workers Of America union members involved in a dispute with Verizon. However, Peter Boockvar, equity strategist at Miller Tabak, noted, "Bottom line, notwithstanding the Verizon induced jump in initial claims, the trend remains stubbornly above 400,000."
The four-week moving average of new unemployment claims, a figure that eases some of the week-to-week volatility, showed an increase of 4,000 to 407,500 from the previous week's revised average of 403,500. Not adjusted for seasonal factors, the department reported that some 8,500 new claims were filed by striking workers in the week ended August 20, while at least 12,500 new claims were filed the week before.
Furthermore, officials said, seasonal factors had expected a 2.5 percent decline in new unemployment claims, but the states reported a 1.3 percent decline, causing the increase in the seasonally adjusted figure.
The total number of people claiming unemployment insurance, a figure known as continuing claims, decreased for the week ended August 13, falling by 80,000 to 3.641 million from the previous week's revised level of 3.721 million.
The four-week average of continuing unemployment claims decreased by 19,500 to 3.701 million from the previous week's revised average of 3.721 million.
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