Consumer Comeback Blog

Weekly U.S. Jobless Claims Rise, Incomes Falls

Jobless claims grew by 15,000 for the week ending Sept. 8, the largest increase in two months. The new claims raised the number to 382,000, according to Department of Labor figures. The four week moving average increased by 3,250 to 375,000.

While economists did predict a substantially lower amount of claims, 370,000, Tropical Storm Isaac added 9,000 applications for benefits. According to a Businessweek report, the job market is “cooling as a global slowdown and looming U.S. tax policy changes keep businesses hesitant about hiring.”

The news about the unemployment claim increases follows a report from the U.S. Census Bureau showing that household income fell in 2011 for the fourth consecutive year to an inflation-adjusted $50,054, the Wall Street Journal reported.