By Noreen Burke
biedex.com — The number of Americans applying for initial unemployment benefits unexpectedly increased to last week , compounding fears that the recovery in the labor market is stalling.
Economists had forecast a decline to 825,000. The prior week’s figure was revised up to 845,000 from an initially reported 840,000.
The number of continuing claims, which are reported with a one-week lag to initial claims, decreased to . The previous week’s figure was also revised up to 11.183 million.
The report comes a day after Treasury Secretary Steven Mnuchin quashed hopes for additional aid to support the faltering economic recovery before the election.