"The labor market continues to be disappointing"
- Guy Berger, a U.S. economist at RBS Securities Inc.
The number of people who filed unemployment benefit claims in the U.S. rose more than expected last week, the U.S. Department of Labor said on Thursday. Applications for U.S. jobless benefits jumped by 15,000 to a seasonally adjusted 382,000 in the week ended September 8, up from 367,000 in the previous week. Analysts had predicted an increase of 3,000 to 370,000.
"The labor market continues to be disappointing," said Guy Berger, a U.S. economist at RBS Securities Inc. in Stamford, Connecticut.
"We are watching unemployment, gas prices, GDP, all those other macro things that would impact the consumer's willingness to spend," said Robert Niblock, chief executive officer of Lowe's Cos., the second-largest U.S. home-improvement retailer.
The Standard & Poor's 500 gained 1.63 per cent to 1,459.99. The Dow Jones Industrial Average rose 1.55 per cent to 13,539.86. The Nasdaq Composite advanced 1.33 per cent to 3,155.83.
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