The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, pointing to labor market resilience despite moderate economic growth.
Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 276,000 for the week ended May 30, the Labor Department said on Thursday.
Claims for the prior week were revised to show 2,000 more applications received than previously reported.
It was the 13th straight week that claims held below the 300,000 threshold, which is usually associated with a strengthening labor market.
Economists polled by Reuters had forecast claims falling last week to 279,000. Last week’s claims data included the Memorial Day holiday, but a Labor Department analyst said that had not had an impact on the data.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.