Thosef Americans filing applications for unemployment benefits were greater in number last week, but experts also say the trend in claims remained consistent with tightening stateside labour market conditions.
Figures released Thursday by the U.S. Labor Department showed initial claims for state unemployment benefits rose 8,000 to a seasonally adjusted 215,000 for the week ended July 27, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported.
Economists had forecast claims increasing to 214,000 in the latest week. The department said no claims were estimated last week.
There are still no signs of a pickup in layoffs as a result of an ongoing trade war between the U.S. and China. The Federal Reserve on Wednesday cut interest rates for the first time since 2008, to insure against downside risks to the economy from the trade tensions and slowing global growth.
The four-week moving average of initial claims, which irons out week-to-week volatility, fell 1,750 to 211,500 last week.
The claims data has no bearing on July’s employment report, which is scheduled to be released on Friday. According to a survey of economists, non-farm payrolls likely increased by 164,000 jobs in July after surging by 224,000 in June. Job gains averaged 172,000 per month in the first half of this year, below the monthly average of 223,000 in 2018.
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