The number of Americans filing for unemployment benefits rose last week, but stayed at levels consistent with a strengthening labour market.
The U.S. Labor Department reported Thursday morning that initial claims for state unemployment benefits increased 9,000 to a seasonally-adjusted 269,000 for the week ended Nov.28.
The prior week's claims were unrevised. It was the 39th straight week that claims registered below 300,000, which is normally associated with a healthy labour market. Claims are near levels last seen in 1973 and there is little room for further declines as the labour market normalizes.
Economists had forecast claims rising to 268,000 last week. The claims data covered the Thanksgiving Day holiday, which can add volatility to the numbers.
The four-week moving average of claims, considered a better measure of labour market trends as it strips out week-to-week volatility, fell 1,750 to 269,250 last week.
Last week's claims have no bearing on Friday's employment report for November as they fall outside the survey period.
According to a Reuters survey of economists, non-farm payrolls likely increased 200,000 last month after rising 271,000 in October. The unemployment rate is forecast unchanged at a seven-and-a-half-year low of 5%.
The four-week moving average of the so-called continuing claims fell 2,250 to 2.17 million. After big declines for much of the year, the pace of improvement in continuing claims appears to have slowed in recent weeks. Economists say this suggested limited scope for the unemployment rate to fall further.
