Jobless Claims Post Unexpected Gain - Claims in a clear upward trend. But it's not a crisis, and it may not be enough to make the Fed happy.

Byline: Charles Oliver, Investor's Daily

New claims for jobless benefits ticked up last week after falling sharply theweek before, a possible sign the red-hot labor market may be cooling. The Labor Department reported Thursday that 302,000 Americans filed new claims for jobless benefits for the week ended Saturday, up by 5,000 from the previous week. It was the highest level since June 3, when claims were at 313,000. The report confirmed other recent data that the economy's torrid growth is cooling slightly. But economists caution that the jobs market is still too tight as faras the Federal Reserve is concerned. Thursday's report surprised analysts, whoexpected that claims would fall slightly. The more stable four-week moving average of claims, which smooths out …