The number of Americans filed applications for unemployment benefits rose last week to the highest level since June, according to report of the Ministry of Labor in the United States. The dynamic data signaled a possible pause in the progress of the labor market. The US jobless claims rose by 17,000 to 286,000 during the week ended on November 26, showed the seasonally adjusted data. The average forecast of analysts was for a level between 251,000 and 253,000.
The four weeks average level, which smooths out volatility between weeks remained virtually unchanged at level of 251,500.
Markets await more detailed data on the labor market in the US on Friday, when released report on employment, unemployment and wage growth.
Since last week was the Thanksgiving, the working days in the US were less and adjusted data registered a decrease of 37,000 applications. Even with the latest increase, the pace of seasonally adjusted data remains close to the average for 2016, namely about 263,000.
Submitted applications for unemployment benefits remained below 300,000 for 91 consecutive weeks,which is the longest series since 1970, indicating a stable labor market.
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