The number of Americans
filing for unemployment benefits rose last week, but remained below a level
associated with a healthy labour market according reports by Reuters.
Initial claims for state
unemployment benefits increased 10,000 to a seasonally adjusted 268,000 for the
week ended June 25, the Labour Department said on Thursday.
Claims for the prior week
were revised to show 1,000 fewer applications received than previously
reported. Last week's increase was in line with economists' expectations.
Claims have now been below
300,000, a threshold associated with a strong jobs market, for 69 consecutive
weeks, the longest streak since 1973.
The four-week moving average
of claims, considered a better measure of labor market trends as it irons out
week-to-week volatility, was unchanged at 266,750 last week.
The low level of layoffs
suggests underlying strength in the labor market even though hiring slowed
sharply in May, with nonfarm payrolls increasing only 38,000, the smallest gain
since September 2010.
Although economists believe
job growth picked up in June, there are worries that Britain's vote last week
to leave the European Union could prompt companies to delay hiring amid
uncertainty over how the so-called Brexit will unfold.
The Brexit vote wiped a
record $3 trillion off the value of global shares in a two-day selloff. While
global equities have since recovered some of the losses, it is unclear whether
the financial turmoil triggered by the referendum is over.
Stocks in Asia and Europe
rose for a third consecutive day on Thursday, with U.S. equities also set to
open higher. The dollar was little changed against a basket of currencies,
while prices for U.S. government debt rose.
A Reuters survey of
economists forecast payrolls rising 180,000 in June. The Labour Department will
publish its June employment report on July 8.
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