US: Weekly initial claims was 298,000, an increase of 62,000 from previous week

"In the week ending September 2, the advance figure for seasonally adjusted initial claims was 298,000, an increase of 62,000 from the previous week's unrevised level of 236,000," the US Department of Labor announced on Thursday.

Key highlights:

•  This is the highest level for initial claims since April 18, 2015 when it was 298,000. 
• The 4-week moving average was 250,250, an increase of 13,500 from the previous week's unrevised average of 236,750. 
• The advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending August 26, unchanged from the previous week's unrevised rate.
• The advance number for seasonally adjusted insured unemployment during the week ending August 26 was 1,940,000, a decrease of 5,000 from the previous week's revised level.