According to a Bloomberg article, initial claims for unemployment benefits in the U.S. grew last week to the highest level in three months, signaling a slower labor market recovery than previously expected.

In the week ending April 23, jobless claims increased by 25,000 to 429,000, the most since late January, according to Labor Department figures.

Bloomberg reported that the number of people on unemployment benefit rolls and those receiving extended payments dropped, a sign the jobless rate may fall in coming months. The article quoted a senior economist as saying, before the report was released, “We anticipate the economy gaining some momentum later this year, generating jobs fast enough to gradually reduce the unemployment rate.”

To read the Bloomberg article click here.

To read the Department of Labor’s unemployment claims report for the week ending April 23, 2011 click here.