"The number of Americans seeking jobless benefits rose modestly last week, suggesting that employers are still retaining workers even as the economy has showed signs of slowing. Applications for unemployment benefits for the week ending Aug. 30 rose by 8,000 to 237,000, the Labor Department reported Thursday. That's more than the 231,000 new applications economists were expecting. The four-week average of claims, which softens some of the week-to-week volatility, rose by 2,500 to 231,000."
"The total number of Americans collecting unemployment benefits for the previous week of Aug. 23 fell by 4,000 to 1.94 million. Weekly applications for jobless benefits are seen as a proxy for layoffs and have mostly settled in a historically healthy range between 200,000 and 250,000 since the U.S. began to emerge from the COVID-19 pandemic nearly four years ago."
Weekly U.S. applications for unemployment benefits rose by 8,000 to 237,000 for the week ending Aug. 30, exceeding economists' expectation of 231,000. The four-week moving average increased by 2,500 to 231,000, indicating a modest rise in claims while smoothing volatility. The total number of people collecting benefits for the week of Aug. 23 declined by 4,000 to 1.94 million. Weekly initial claims remain a proxy for layoffs and have largely stayed within a historically healthy band between 200,000 and 250,000 since the U.S. began emerging from the COVID-19 pandemic nearly four years ago.
Read at ABC7 Los Angeles
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