© Reuters
By Geoffrey Smith
Investing.com — The number of first-time jobless filers rose last week to a 10-week high, a sign that the job market may be losing its ability to defy gravity.
The Labor Department said it rose to 211,000 last week, from 190,000 the week before. Analysts had expected only a small rally to 195,000.
The less volatile four-week average, arguably a better indicator of trend, also rose to a six-week high of 197,000.
At the same time, it also surprised to the upside, rising to 1.718 million and matching a 14-month high.