UNITED STATES NEWS

Weekly applications for US jobless aid tick up from 5-month low

Aug 3, 2023, 6:34 AM

WASHINGTON (AP) — The number of Americans seeking unemployment benefits rose slightly last week but remained at a historically low level that points to a robust job market.

Applications for jobless aid rose 6,000 to 227,000 for the week ending July 29, the Labor Department said Thursday. The four-week moving average of claims, a less volatile measure, fell 5,500 to 228,250.

Jobless benefit applications are seen as a proxy for the number of layoffs in a given week. Thursday’s report comes just a day before the July jobs report will be released, which will provide a broader and more detailed look at the labor market and economy.

Economists forecast the report will show that employers added a solid 200,000 jobs last month, while the unemployment rate will be unchanged at 3.6%.

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Weekly applications for US jobless aid tick up from 5-month low