The number of Americans filing claims for unemployment benefits rose by the largest amount in five weeks, suggesting the slowing economy is beginning to show up in a weaker employment market.
The Labor Department reported that 308,000 people filed for jobless benefits last week, a bigger-than-expected increase of 11,000 from the previous week.
Analysts, who closely watch jobless claims as a signal for where the labor market is headed, believe that job growth will weaken in coming months and layoffs will rise as businesses adjust their hiring plans in the face of an expected economic slowdown.
