U.S. jobless claims rise, but underlying labor market trends firming

The number of Americans filing new claims for unemployment benefits rose for a second straight week last week, but remained at levels consistent with a firming labor market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 287,000 for the week ended Oct. 25, the Labor Department said on Thursday. The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 250 to 281,000. Claims at these levels indicate a strengthening in labor market conditions.

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