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- US jobless claims rose more than expected
US jobless claims rose more than expected
The data from the Labor Department revealed the number of applications for unemployment benefits rose more than expected last week, but continued to point to a healthy labor market.
According to the report, the initial claims for unemployment benefits increased by 3,000 to a seasonally adjusted 244,000 for the week ended August 5. Economists had expected 242,000 new claims last week.
Claims for the prior week were revised upwardly to 241,000 from the initial estimate of 240,000.
Meanwhile, the four-week moving average of claims fell by 1,000 to 241,000 last week. That was the 127th straight week that claims remained below the 300,000 threshold, the longest streak since 1970.
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