The number of applications for unemployment benefits unexpectedly increased last week, a sign labor market momentum may be starting to cool. Initial jobless claims rose by 7,000 to 284,000 in the week ended Jan. 9, the second-highest level since July, a report from the Labor Department showed on Thursday. The median forecast in a Bloomberg survey of economists called for a decline to 275,000. Concerns that a slowdown in China and other emerging economies will limit prospects for U.S. growth have roiled equity markets and may prompt some employers to cut back. A sustained pickup in the pace of dismissals that takes ... (full story)