US Initial Jobless Claims Rise to Highest Level Since June

Applications for US unemployment benefits rose to the highest since June, adding to evidence that the labor market is cooling.

Initial claims increased by 8,000 to 237,000 in the week ended Aug. 30. The median forecast in a Bloomberg survey of economists called for 230,000 applications.

Companies have grown more hesitant about hiring while assessing the economic impact from President Donald Trump’s policies. Hiring plans fell to the weakest level for any August on record in data from outplacement firm Challenger, Gray & Christmas going back to 2009, while intended job cuts rose.

The four-week moving average of new ...