The number of Americans filing for unemployment benefits reportedly rose last week from a 43-year low, but remained below a level consistent with a tightening labour market.
Figures released Wednesday by the U.S. Labor Department showed initial claims for state unemployment benefits increased 18,000 to a seasonally-adjusted 251,000 for the week ended Nov. 19
Claims for the prior week were revised to show 2,000 fewer applications filed than previously reported.
Claims have now been below 300,000, a threshold associated with a healthy labour market, for 90 straight weeks. That is the longest run since 1970, when the population and labour market were much smaller.
Economists had forecast first-time applications for jobless benefits rising to 250,000 in the latest week. The claims report was released a day early because of the Thanksgiving holiday on Thursday.
A department analyst said there were no special factors influencing last week's data and that no states had been estimated. The four-week moving average of claims, considered a better measure of labour market trends as it irons out week-to-week volatility, fell 2,000 to 251,000 last week.
The strong labour market, viewed as being at or near full employment, and steadily rising inflation are expected to encourage the Federal Reserve to hike interest rates at its Dec. 13-14 policy meeting.
