US jobless claims rose slightly to 234,000 last week

WASHINGTON (AP) – Slightly more people sought U.S. unemployment benefits last week, but jobless claims remained at historically low levels.

The Labor Department says applications for weekly unemployment aid rose 1,000 to 234,000. The four-week average, a less volatile figure, fell 5,750 to 235,250.

Applications are a close indication of layoffs. They have been below 300,000, a historically low figure, for 116 weeks. That’s the longest streak since 1970.

The ultra-low figure adds to evidence that companies are holding onto workers and hiring at a steady pace. Americans are spending more, factories have cranked up output and home sales are strong, boosting the economy after it barely expanded in the first three months of the year.

(Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s