There may be a loss of momentum in the labor market.

FOX's Jon Decker has more from the White House:

The number of Americans filing for unemployment benefits rose to a six-month high last week, rising by 10,000 to a seasonally adjusted 293,000.

Layoffs appear to have picked up a bit in recent weeks, especially in the energy, mining and manufacturing sectors, which have been devastated by a slump in Crude Oil prices and a strong dollar.

The latest national unemployment rate is 5%, a level that economists consider full employment.

At the White House, Jon Decker, FOX News.