Jobless Claims Higher Than Expected But Remain Low

The number of Americans filing new claims for unemployment benefits rose last week but held close to a six-year low and gave a positive signal for hiring during the month.

Initial claims for state unemployment benefits climbed 13,000 to 336,000, just above the level expected by economists in a Reuters poll, Labor Department data showed on Thursday.

Despite the increase, the four-week moving average for new claims, which gives a better reading on labor market trends because it smooths out volatility, fell to its lowest level since November 2007.

The data were collected during the same week the Labor Department surveys employers for its monthly employment report, and the trend in claims hinted that hiring may pick up during August.

At 330,500, the four-week average was about 5 percent lower than it was during the employment report’s survey week in July, when employers added a lackluster 162,000 jobs to payrolls.

A Labor Department analyst said no states had been estimated and there was nothing unusual in the state-level data.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.