Claims, which count the number of people who applied for unemployment insurance for the first time, rose by 1,000 to 234,000 from last week's upwardly revised 233,000.
ADVERTISEMENT
Initial jobless claims tick up
The latest read on initial jobless claims.
ADVERTISEMENT
Economists had forecast that claims rose to 238,000.
The four-week moving average was 235,250, a drop of 5,750 from the previous week's revised average. This is the lowest level for the average since April 14, 1973 when it was 232,750.
Initial jobless claims are used as a real-time proxy for the pace of layoffs since people usually file for benefits soon after they lose their jobs.
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Russian troops have entered base housing US military forces in Niger
Digitalisation: A revolution in financial services
Most valuable airline loyalty programs in Africa
Benin joins EBRD as the first Sub-Saharan African member
Offshore sportsbooks and best sports betting sites
Top 5 African cities with the most unaffordable real estate in 2024
US says it is still engaged with West African juntas
Opinion Piece: Accelerating sustainable development goals through better agricultural risk management