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Jobless claims rise NEW YORK (CNN/Money) - The number of people filing
for jobless benefits increased last week, a government report showed
Monday, as the closely watched reading on the labor market came
in above Wall Street expectations. "The increase is mostly hurricane-related," a department spokesman said. "It can be related to the recent hurricanes in Florida." The claims data have been whipsawed in recent weeks by the impact of repeated hurricanes that have lashed Florida and other Southeastern states. A department spokesman said last week's claims number primarily reflected hurricanes Charley and Frances and that Hurricane Ivan, which struck a week ago and caused widespread damage, has yet to make its presence felt on claims. A four-week moving average of initial claims, which smoothes out short-term volatility, edged up to 341,000 from 339,000 -- still a level that economists associate with moderate hiring. The number of people who remained on state unemployment rolls after claiming an initial week of jobless claims edged up to 2.88 million.
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