US jobless claims increase sharply from five-month low

Rise of 29,000

US unemployment insurance claims rose sharply from the five-month lows last week, increasing to 219,000 from the previous week’s 190,000.

The rise of 29,000 claims was one of the sharpest weekly increases this year. The 219,000 initial jobless claims came in above expectations of 203,000, although it is still low by historical standards. The data is a useful indicator of the official employment figures, which will be released on 7 October, and are predicted to show that the US economy added 250,000 jobs in September, which would be the smallest monthly increase since December of last year. Economists warn markets are 'too optimistic' about Fed pivot prospects Some positive signs for the US labour came out earlier ...