Saturday, May 23, 2015Saturday, May 23, 2015

US jobless claims up modestly, labour market trend improving

Published on Jan 23, 2014 9:49 PM

WASHINGTON (REUTERS) - The number of Americans filing new claims for unemployment rose marginally last week, but the underlying trend suggested the labour market continued to steadily improve.

Initial claims for state unemployment benefits ticked up 1,000 to a seasonally adjusted 326,000, the Labor Department said on Thursday. Claims for the prior week were revised to show 1,000 fewer applications received than previously reported.

Economists polled by Reuters had expected first-time applications for jobless benefits to hold steady at 326,000 in the week ended Jan 18.

The four-week moving average for new claims, considered a better measure of underlying labor market conditions, fell 3,750 to 331,500.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!