Tags: jobless claims | labor market | workers | employment

Jobless Claims Rise Modestly, Still Point to Firming Labor Market

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Thursday, 01 Oct 2015 08:38 AM

The number of Americans filing new applications for jobless benefits rose modestly last week and a gauge of its trend fell, pointing to ongoing tightening in the labor market that could push the Federal Reserve to raise interest rates.

Initial claims for state unemployment benefits rose 10,000 to a seasonally adjusted 277,000 for the week ended Sept. 26, the Labor Department said on Thursday.

It was the 30th straight week that claims remained below the 300,000 threshold, which is usually associated with a strengthening labor market. The Labor Department said there were no special factors impacting last week's claims.

Claims for the prior week were unrevised. Economists polled by Reuters had forecast claims rising to 270,000 last week.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, dropped 1,000 to 270,750.

The labor market has remained on solid footing, despite a recent global stock market sell-off, which has boosted expectations the Fed could hike rates this year or in early 2016.

The economy is forecast to have added 203,000 jobs in September, a pace that if held could push the jobless rate lower in the coming months.

Thursday's claims report showed the number of people still receiving benefits after an initial week of aid fell 53,000 to 2.19 million in the week ended Sept. 19.

© 2017 Thomson/Reuters. All rights reserved.

 
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The number of Americans filing new applications for jobless benefits rose modestly last week and a gauge of its trend fell, pointing to ongoing tightening in the labor market that could push the Federal Reserve to raise interest rates.Initial claims for state unemployment...
jobless claims, labor market, workers, employment
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2015-38-01
Thursday, 01 Oct 2015 08:38 AM
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