MW: Jobless claims dip to 261,000, layoffs still scarce
WASHINGTON (MarketWatch) — The number of Americans who applied for unemployment benefits last week fell by 1,000 to 261,000 and remained near postrecession lows, indicating a healthy labor market in which few people are losing their jobs.
Economists polled by MarketWatch had forecast initial jobless claims to total 264,000 in the week stretching from Aug. 14 to Aug. 20.
The average of new jobless claims over the past month dropped by 1,250 to 264,000, the Labor Department said Thursday. The less volatile four-week average is seen as a more accurate measure of labor-market trends.
The number of people seeking benefits each week hit a 27-year high of 665,000 near the end of the Great Recession in 2009 before beginning a long descent. Claims fell below the key 300,000 threshold in early 2015 and have remained there for 77 straight weeks, the longest streak since 1970.
Continuing jobless claims, meanwhile, declined by 30,000 to 2.15 million in the week ended Aug. 13 the government said. These claims, reported with a one-week delay, reflect people already receiving unemployment checks.
