U.S. Jobless Claims Rose Last Week
18 July 2019 - 2:00PM
Dow Jones News
By Sarah Chaney and Likhitha Butchireddygari
WASHINGTON-The number of Americans applying for first-time
unemployment benefits increased last week, but remained near
historically low levels, a sign of a firm labor market.
Initial jobless claims, a measure of how many workers were laid
off across the U.S., rose by 8,000 to a seasonally adjusted 216,000
in the week ended July 13, the Labor Department said Thursday. The
figure matched expectations of economists surveyed by The Wall
Street Journal.
Estimates of claims are volatile week to week and often revised.
A separate measure--the four-week moving average, which shows the
trend over the past month--fell by 250 to 218,750.
The report also showed so-called continuing claims--those filed
by workers unemployed for longer than a week--decreased by 42,000
to 1,686,000 in the week ended July 6. That figure is reported with
a one-week lag.
Claims remain exceptionally low, especially considering the
population is much larger today than the last time claims were
similarly low in the 1960s.
The labor market appears healthy overall. Job openings continue
to exceed the number of unemployed. The June jobs report showed
hiring picked up after a May lull. The unemployment rate ticked up,
to 3.7%, but that was in part due to more people entering the labor
market to seek work.
Write to Sarah Chaney at sarah.chaney@wsj.com and Likhitha
Butchireddygari at likhitha.butchireddygari@wsj.com
(END) Dow Jones Newswires
July 18, 2019 08:45 ET (12:45 GMT)
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