U.S. Jobless Claims Remain Low

Washington, The number of people filing initial applications for U.S. state unemployment benefits rose more than expected last week, likely as Hurricane Florence temporarily displaced some workers, but the underlying trend continued to point to a tightening labor market, the government reported Thursday.

The Labor Department said jobless claims rose 12,000 to 214,000 last week. Claims fell to 202,000 during the previous week, the lowest level since November 1969.

The four-week moving average of claims�a better gauge of labor-market trends because it smoothes weekly volatility�rose only 250 to 206,250 last week.

Hurricane Florence lashed parts of the U.S. east coast last week, causing major flooding and sending people into emergency shelters. The department reported in increase in jobless claims for South and North Carolina last week.

The labor market is considered as being at or near full employment. It continues to strengthen, with payrolls increasing by 201,000 positions in August and annual wage growth recording its biggest gain in more than nine years. Job openings hit a record high of 6.9 million in July.

Source: Saudi Press Agency