US weekly jobless claims post largest increase in five months

The number of Americans filing new claims for unemployment benefits increased by the most in five months last week, but the underlying trend remained consistent with a tight labor market.

Initial claims for state unemployment benefits rose 21,000 to a seasonally adjusted 211,000 for the week ended March 4, the Labor Department said on Thursday. That was the largest increase since October and lifted claims to a two-month high.

Economists polled by Reuters had forecast 195,000 claims for the latest week. The four-week moving average for new claims, a better...