The number of Americans applying for unemployment benefits last week rose by more than expected but remained at a historically low level.
Initial claims for jobless benefits in the U.S. jumped by 21,000 to 211,000 from 190,000 the previous week, the Labor Department said Thursday. This is the first time in eight weeks that claims came in above 200,000.
Economists polled by Econoday were expecting claims to rise to 195,000 from the previous week’s 190,000.
Claims can be volatile week to week so many economists look to the four-week moving average of claims for a signal of the state of the labor market. This rose by 4,000 to 197,000, the seventh straight week below 200,000.
Continuing claims, which are reported with a one-week delay, rose by 69,000 to 1.72 million.