The number of Americans applying for first-time unemployment benefits fell slightly last week to remain near historically low levels, suggesting firms are reluctant to lay off workers.
Figures released by the U.S. Labor Department showed initial jobless claims decreased by 4,000 to a seasonally-adjusted 259,000 in the week ended Sept. 3, the lowest level for claims since the week ended July 16.
Economists expected 265,000 new claims. Claims for the prior week were unrevised at 263,000.
The department also said there were no special factors impacting the latest data. Figures for five states and Puerto Rico were estimated last week. The latest week of data concluded just ahead of the Labour Day holiday. While the data is seasonally adjusted, it isn’t unusual for weekly figures to be affected by anomalies near holidays.
The four-week moving average of claims, which smooths out sometimes volatile weekly data, fell by 1,750 to 261,250.
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