Jobless claims edge higher as hiring remains subdued |
| U.S. unemployment claims rose slightly to 206,000 in the seven days to August 29th from a revised 204,000, the Labor Department reported on Thursday, just ahead of the 205,000 expected among economists polled by the Wall Street Journal. The four-week average increased to 207,250 while continuing claims, reported with a one-week lag, rose 8,000 to just under 1.78m. Despite the uptick, claims remain within their historically low range of 200,000 to 230,000, and the unemployment rate stands at 4.1%, indicating that layoffs remain limited. The labor market is increasingly characterized by low firing and weak hiring. Economists expect August data, to be released later today, to show 65,000 jobs added, with the unemployment rate rising to 4.2%. |
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