U.S. Jobless Claims Rose Slightly Last Week

New applications for unemployment benefits edged higher last week, suggesting the labor market is loosening a bit as the economy shows signs of slowing.

Initial jobless claims, a proxy for layoffs, rose to a seasonally adjusted 235,000 last week from 231,000 the week before, the Labor Department said Thursday. The figure stands just above the 2019 prepandemic weekly average of 218,000, when the labor market was also strong.

The four-week moving average for claims, which smooths weekly volatility, inched up to 232,500 last week, an increase of 750 from the previous...