The number of those filing for unemployment benefits south of the border rose last week, but the underlying trend continued to point to a robust U.S. labour market that should keep the American economy on a strong growth path this year.
Figures released Thursday by the U.S. Labor Department reported initial claims for state unemployment benefits increased 3,000 to a seasonally-adjusted 213,000 for the week ended Aug. 25. Data for the prior week was unrevised.
Claims had declined for three straight weeks. Economists had forecast claims rising to 214,000 in the latest week.
The four-week moving average of initial claims, considered a better measure of labour market trends as it irons out week-to-week volatility, fell 1,500 last week to 212,250, the lowest level since December 1969.
There are no signs so far in the claims data that the Trump administration's protectionist trade policy, which has led to an escalating trade war with China and tit-for-tat import tariffs with other trading partners, including the European Union, Canada and Mexico, is hurting the labour market.
The jobs market, which is viewed as being near or at full employment, is steadily raising wage growth, helping to support consumer spending and boost the overall economy.
