The number of Americans applying for unemployment benefits moved upward last week, but remained at historically low levels that were consistent with a healthy U.S. labour market.
Figures released Thursday by the U.S. Labor Department revealed that initial jobless claims, a proxy for layoffs across the U.S., increased by 22,000 to a seasonally-adjusted 259,000 in the week ended Jan. 21.
Economists had expected 246,000 new claims last week. Claims for the week ended Jan. 14 were revised up to 237,000 from an earlier estimate of 234,000.
Despite choppiness over the past few months, jobless claims in the United States have now remained below 300,000 for 99 consecutive weeks, the longest such streak since 1970, when the U.S. workforce and population were far smaller than they are today.
A more stable measure, the four-week moving average of initial claims, fell by 2,000 last week to 245,500, the average's lowest level since November 1973.
