Americans applying for first-time unemployment benefits were greater in number last week but remained at a low level consistent with a generally healthy labour market south of the border.
Figures released Thursday by the U.S. Labor Department showed initial jobless claims, a proxy for layoffs, increased by 3,000 to a seasonally adjusted 254,000 in the week ended Sept. 24. Economists had expected 260,000 new claims last week.
Claims for the week ended Sept. 17 were revised a bit lower to 251,000 from an earlier estimate of 252,000.
The four-week moving average, which smooths out week-to-week volatility in the claims data, fell by 2,250 to 256,000 last week. The lowest average since 1973.
Initial jobless claims have now remained below 300,000 for 82 consecutive weeks—the longest streak since 1970, when the U.S. population and workforce were far smaller.
