WASHINGTON – The number of new people signing up for unemployment benefits moved higher last week, suggesting that the job market is logging slower growth.
The Labor Department reported Thursday that new applications filed for unemployment insurance increased by a seasonally adjusted 4,000 to 313,000 for the week ending June 24. Claims the week before had climbed to 309,000.
Last week's increase left claims at a higher level than economists were expecting. They were forecasting claims to rise to 310,000. Other barometers have shown job growth lost momentum heading in the summer. Employers boosted payrolls by just 75,000 in May, the fewest new jobs since October.