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US jobless claims rise by 3,000 amid tightening labour market

Labor market tightness could encourage the Federal Reserve to unwind its $4.2 trn Treasury bonds

Reuters  |  Washington 

The number of Americans filing for unemployment benefits unexpectedly rose last week, but the underlying trend remained consistent with a tightening labour market. Initial claims for state unemployment benefits increased 3,000 to a seasonally adjusted 244,000 for the week ended Aug. 5, the Labor Department said on Thursday. Data for the prior week were revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast claims would be unchanged at 2,40,000 in the latest week. With the labour market near full employment, there is ...

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First Published: Thu, August 10 2017. 18:55 IST