The number of Americans filling for unemployment benefits increased less than expected last week, according to data from the Labor Department.
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The Labor Department said Thursday that claims rose by 1,000 last week to a seasonally adjusted 260,000.
It was the 80th straight week that claims remained below the 300,000 threshold, which is associated with robust labor market conditions.
Taking week-to-week volatility into consideration, the four-week moving average fell by 500 to 260,750 from last week’s unrevised average of 261,250.
The number of Americans collecting unemployment checks is 2.14 million, down almost 5 percent from a year ago.
Economists had forecast first-time applications for jobless benefits rising to 265,000 in the latest week.
Initial jobless claims reflect weekly firings, and a sustained low level of applications has typically coincided with faster job gains.
The unemployment rate in August was 4.9%, within the 4.7% to 5% range that most Federal Reserve policy makers estimated in June was normal in the longer run.
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Thursday’s report showed continuing unemployment claims, reflecting workers drawing benefits for longer than one week, rose by 1,000 to 2,143,000 in the week ended September 3. The disconnect suggests that employers are struggling to find qualified workers. More Americans applied for unemployment benefits last week, September 9, but jobless claims remained at levels consistent with a healthy labor market.
