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Jobless Claims Fall in August for Second Straight Week

Image: Jobless Claims Fall in August for Second Straight Week

Thursday, 18 Aug 2016 09:30 AM

US weekly unemployment claims fell again in the second week of August, continuing their recent streak, according to the Labor Department.

Initial claims for unemployment fell to 262,000 for the week ending August 13, down 4,000 from the week before.

The result was marginally better than the analyst consensus, which had called for 265,000 claims.

However, the four-week moving average rose to 265,250, an increase of 2,500 from the previous week's figure of 262,750.

The result also marked 76 continuous weeks of claims recorded below 300,000. A similar stretch has not been seen since 1970, according to the Labor Department.

Initial claims for unemployment benefits are seen as a measure of the prevalence of layoffs.

Job markets in recent months have been strong, with the US economy adding more than a quarter million jobs in July.

Minutes released Wednesday by the US Federal Reserve showed that monetary policy makers are focused closely on the question of full employment but remain divided on the potential dangers of inflation, which remains low.

 

© AFP 2017

 
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Economy
Weekly unemployment claims fell again in the second week of August, continuing their recent streak, according to the Labor Department.
economy, unemployment, claims, indicator
170
2016-30-18
Thursday, 18 Aug 2016 09:30 AM
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