The number of people filing new applications for unemployment benefits rose unexpectedly last week, but the broader trend in labor-market conditions remained stable, the U.S. government said Thursday. The Labor Department said initial jobless claims rose 14,000 last week to 348,000. Economists had expected claims to increase slightly to 335,000. The four-week moving average of claims—considered a better measure of labor-market trends because its smoothes weekly volatility—was unchanged at 338,250. The figure is not far above pre-recession levels, indicating that companies are laying off few workers. Jobless claims have been steady in recent weeks, despite weak overall hiring in February and January, suggesting employers continue to be reluctant to add many jobs, but they are not worried enough about future growth to increase layoffs.
