The number of Americans initially applying for unemployment aid increased last week, while the job market kept healthy.
In the week ending April 23, the advance figure of seasonally adjusted initial claims for jobless benefits increased to 257,000, an increase of 9,000 from the revised level of the previous week, the U.S. Labor Department said Thursday.
This marks 60 consecutive weeks of initial claims below 300,000, a benchmark for real job growth or loss in the economy, the longest streak since 1973, said the Labor Department.
Meanwhile, the four-week moving average, which helps smooth out week-to-week volatility, edged down by 4,750 to 256,000 last week.
The advance figure of seasonally adjusted insured unemployment during the week ending April 16 decreased 5,000 from the previous week to 2,130,000. The four-week moving average has fallen to the lowest level since December 8, 1973 and the advance figure of seasonally adjusted insured unemployment has decreased to the lowest level since November 4, 2000, said the Labor Department.
The U.S. Federal Reserve expected that the U.S. economy will expand "at a moderate pace" and the labor market indicators will "continue to strengthen," according to the statement issued by the Fed on Wednesday after a two-day policy meeting.
Latest comments