Layoffs stayed low through the end of July.
First-time claims for unemployment benefits rose slightly to 270,000 for the week ending Aug. 1, the Department of Labor reported Thursday.
The number of initial claims, which is adjusted to smooth out predictable seasonal fluctuations, was slightly above the previous week’s very low level of 267,000, and just below investors’ expectations.
Despite the slight uptick, jobless claims remain near decades-low levels. The four-week moving average of claims dropped by 6,500 to 268,250, a level not seen since 2000 before this year.
Low levels of claims for unemployment benefits are viewed as a leading indicator of job growth to come, and July’s reports have raised expectations for Friday’s monthly jobs report.
Economists expect slightly over 210,000 new jobs in July, according to Bloomberg.
That number would be in line with average job creation for 2015 so far.
Throughout the year, falling unemployment has been one of the bright spots in the U.S. economy. At 5.3 percent through June, the unemployment rate is down from 6.1 percent a year ago and the lowest it’s been since early 2008.
Thursday’s jobless claims report showed that there were 2.3 million people total receiving unemployment benefits, which are available up to 26 weeks after separation, through mid-July. There were 2.6 million a year ago.
