WASHINGTON (AFP) - More
Americans filed new claims for US unemployment insurance benefits last
week, but the trend remained historically low as the labor market
improves, official data released Thursday showed.
The Labor Department said initial jobless claims, a sign of the pace of layoffs, rose by 7,000 to 265,000 in the week ending March 12. The prior week's level was revised down by 1,000 to 258,000 claims.
The rise in new claims was a bit less than the 266,000 level expected by analysts.
The Labor Department pointed out that initial claims have been below 300,000 for 54 weeks running, the longest streak since 1973. It said there were no special factor's impacting the latest data.
The four-week moving average ticked higher by a scant 750 claims to 268,000. It was 305,250 a year ago.
Job growth has been solid in the US economy, with 242,000 jobs added in February as the unemployment rate held at 4.9 percent for the second straight month, the lowest since February 2008 at the beginning of the Great Recession.
"Layoffs are low, just one sign that the job market is tightening quickly and slack is diminishing," said Ryan Sweet of Moody's Analytics.
The Labor Department said initial jobless claims, a sign of the pace of layoffs, rose by 7,000 to 265,000 in the week ending March 12. The prior week's level was revised down by 1,000 to 258,000 claims.
The rise in new claims was a bit less than the 266,000 level expected by analysts.
The Labor Department pointed out that initial claims have been below 300,000 for 54 weeks running, the longest streak since 1973. It said there were no special factor's impacting the latest data.
The four-week moving average ticked higher by a scant 750 claims to 268,000. It was 305,250 a year ago.
Job growth has been solid in the US economy, with 242,000 jobs added in February as the unemployment rate held at 4.9 percent for the second straight month, the lowest since February 2008 at the beginning of the Great Recession.
"Layoffs are low, just one sign that the job market is tightening quickly and slack is diminishing," said Ryan Sweet of Moody's Analytics.
© 2016 AFP
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