Arab Today, arab today us jobless claims edge higher
Last Updated : GMT 08:52:09
Arab Today, arab today
Arab Today, arab today

US jobless claims edge higher

Arab Today, arab today

Arab Today, arab today US jobless claims edge higher

Initial jobless claims
New York - AFP

New claims for US unemployment benefits rose modestly for a third straight week last week, but remained near an historically low level, the government said Thursday.
Initial jobless claims, a sign of the pace of layoffs, rose to 274,000 in the week ending August 8, an increase of 5,000 from the previous week's level, the Labor Department reported.

The four-week moving average of claims stood at 266,250, a decrease of 1,750 from the previous week's average and the lowest level for this benchmark since April 2000.

The report continues "to show no sign of an uptrend, consistent with a still-strong trend in employment growth," said Jim O'Sullivan, chief US economist at High Frequency Economics.

Despite the uptick in claims last week, the four-week average remains low from a historical perspective, said a note from Jesse Hurwitz of Barclays.

"Taken together, the details of this morning's report support our view that labor market conditions have recovered to their two-decade average," said Hurwitz.

 

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