Jobless claims hit nine-month high

The number of Americans filing for unemployment benefits rose last week to the highest level in more than nine months, a sign harsh winter weather may be stalling the job market’s progress.

Jobless claims increased by 7,000 to 320,000 in the week ended Feb. 28, the most since May, from 313,000 in the prior period, a Labor Department report showed Thursday in Washington. The median forecast of 52 economists surveyed by Bloomberg expected claims of 295,000.

Snowfall in parts of the country may have caused some workers to have been temporarily dismissed, leading to the increase in filings. A report tomorrow may show employers added 235,000 workers in February, while the unemployment rate is expected to drop to 5.6 percent, matching a more than six-year low.

“Claims can be volatile,” and the labor market may be due for some cooling, Joseph LaVorgna, chief U.S. economist at Deutsche Bank Securities Inc. in New York, said before the report. “The job numbers will be good, but we’ve been so strong for the last three months, it’s hard for me to think that’s going to be sustained.”

This story was originally published March 5, 2015 at 8:18 AM with the headline "Jobless claims hit nine-month high."