U.S. initial jobless claims rise, signal softening labor market

WASHINGTON, Dec. 29 (Xinhua) -- U.S. initial claims for unemployment benefits rose last week, a signal that the tight labor market could be softening.

Initial jobless claims climbed by 9,000 to 225,000, according to data published Thursday by the U.S. Labor Department.

Economists surveyed by The Wall Street Journal had predicted that new claims would increase 7,000 to 223,000, after claims grew 2,000 to 216,000 in the previous week.

The number of individuals collecting unemployment increased to 1.71 million, the highest level since February.