The number of Americans filing for unemployment benefits rose modestly last week while revisions for prior weeks showed the stateside labour market was much stronger than previously thought.
Figures released Thursday by the U.S. Labor Departmentnitial claims for state unemployment benefits increased 6,000 to a seasonally-adjusted 265,000 for the week ended March 19. The prior week's claims were revised to show 6,000 fewer applications received than previously reported.
Economists had forecast claims rising to 268,000 in the latest week. The U.S. government also revised data going back to 2011, which showed claims trending lower than previously reported. Claims for the week ended March 5 were the lowest since November 1973.
The four-week moving average of claims, which is considered a better measure of labour market trends, removing week-to-week volatility, nudged up only 250 to 259,750 last week.
