US jobless claims rise
Main page Economics, US

The US has witnessed a slight increase in the number of applications for unemployment benefits but the level remains below the crucial 300,000 mark, suggesting the labour market remains strong.

Jobless claims rose by 15,000 last week to 258,000, the Labor Department said today.

The number was revised to show 2000 more applications received than previously reported.

The government revised the claims data going back to 2012 and published new seasonal factors for 2017.

However, the revisions showed no change in the state of labour market, which remains near full employment.

The number of applications for unemployment benefits has remained below 300,000 a week for 80 consecutive weeks, the longest run under the milestone figure since 1970.

The US unemployment rate is currently at 4.7 percent and over the past three months the economy has continued to add jobs at an average rate of 209,000 per month.

Wall Street Journal

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