US claims for jobless benefits jumped last week, while consumer spending was unexpectedly flat in August, the US government said today.
But the dollar took the numbers in its stride, easing a touch against the euro but then pushing back, while 10-year Treasury bonds hovered.
The number of Americans seeking initial jobless benefits jumped by 18,000, but the entire rise was blamed on the effects of hurricanes that have battered the southern United States.
First-time claims for state unemployment insurance rose for the third straight week, climbing to 369,000 in the week ended September 25th from a revised 351,000, the Labor Department said.
The rise defied Wall Street economists' expectations for a fall to 340,000 from the prior week's original measure of 350,000.
Labor said the storms - which now have been skewing the jobless claims data for weeks - have also affected the four-week moving average, closely watched by many economists as a more accurate barometer because it irons out weekly fluctuations.
The four-week average rose for the third straight week, rising to 343,500 from 341,250 in the previous week. Personal income and spending numbers today confirmed the underlying benign inflationary picture facing shoppers in the United States.
Spending was unchanged in August after climbing a revised 1.1 per cent in July, the Commerce Department said. This had been initially reported as a 0.8 per cent gain. Income picked up from July's tepid performance, posting a 0.4 per cent rise compared with 0.2 per cent the previous month.