Jobless claims rise to highest level since August

(CNN)– The federal government reports first-time applications for jobless benefits rose last week to 231 thousand.

It’s the highest level since August and it’s another sign the white-hot labor market is starting to cool off.

Today’s dats also showed the number of continuing claims or applications from people who have filed for unemployment for at least one week was nearly 1.8 million.

That’s an increase of 17 thousand from the prior week.