US applications for jobless benefits inch up for the first time in 7 weeks, but layoffs remain low
US applications for jobless benefits inch up for the first time in 7 weeks, but layoffs remain low
By MATT OTT, Associated Press Business Writer
WASHINGTON (AP) — The number of Americans filing for jobless benefits inched up modestly last week as business continue to retain staff despite economic uncertainty around U.S. trade policy.
The Labor Department reported Thursday that jobless claims for the week ending July 26 ticked up by 1,000 to 218,000, less than the 225,000 new applications analysts forecast. Applications for unemployment aid are viewed as representative of layoffs.
It was the first time in seven weeks that benefit applications rose, although layoffs remain at historically low levels.
The four-week average of claims, which evens out some of the week-to-week fluctuations, fell by 3,500 to 221,000.
The total number of Americans collecting unemployment benefits for the previous week of July 19 was unchanged at 1.95 million.
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