U.S. Jobless Claims Rise Modestly
Despite a previous three month low, jobless rate have risen according to Labor Department.
The number of Americans filing for unemployment benefits has rebounded from a three-month low last week,. However, the numbers remain below a level consistent with a tightening labor market.
On Thursday, the Labor Department said initial claims for state unemployment benefits increased 10,000 to a seasonally adjusted 244,000. Data for the prior week was also revised to show 1,000 more applications received than initially reported.
It was the 125th straight week that claims remained below 300,000, a threshold associated with a robust labor market. The labor market is near full employment, with the jobless rate at 4.4 percent.
However, experts claim there could be many factors that are affecting the numbers. They stress the rise is not an indicator that the economy is suddenly doing poorly.
The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, was unchanged at 244,000 last week.