Applications for US unemployment benefits were little changed, remaining below 200,000 for a third straight week and underscoring the labor market's resilience.
Initial claims edged up to 199,000 in the week ended Aug. 1, according to Labor Department data released Thursday. The streak below 200,000 was the longest since 1969, at a time when such low levels were more common and the US workforce was about half what it is now.
Meanwhile, the four-week moving average, a metric that helps smooth out volatility, fell to the lowest since September 2022.
Continuing claims, a proxy for the number of people receiving benefits, increased to 1.8 million in the previous week, in line with forecasts and remaining much lower than it was a year ago.
Economists estimate that the July's employment report scheduled to be published Friday will show healthy job growth, as consumer spending has continued to support economic activity.
Continuing claims, a proxy for the number of people receiving benefits, increased to 1.8 million in the previous week, in line with forecasts and remaining much lower than it was a year ago.
Economists estimate that the July's employment report scheduled to be published Friday will show healthy job growth, as consumer spending has continued to support economic activity.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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