WASHINGTON: New claims for US jobless benefits rose more than expected last week, to the highest level in two months, but continued a record low run, the Labour Department reported on Thursday.
Strong US jobs data keeps stock markets humming
The result underscored the strength of labour markets, with layoffs rare as employers likely fear they may be unable to find replacement workers when needed.
New claims for unemployment insurance rose 15,000 in the week ended March 18 to 258,000, seasonally adjusted, the highest in two months. Analysts were expecting new claims to decline to 239,000 from the prior week.
US jobless claims fall more than expected last week
Claims have remained below 300,000 a week for more than two years, the longest such streak on record since 1970. The less volatile four-week moving average gained only 1,000 to 240,000 claims.
Published in The Express Tribune, March 24th, 2017.
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