New applications for unemployment insurance benefits rose 9,000 to 217,000 in the third week of July, the Department of Labor reported Thursday.
Thursday’s report was right in line with forecasters’ expectations for claims to rise slightly after hitting the lost levels since 1969 the week before.
Even with the modest increase, average weekly claims have run near the lowest levels in a half century over the past month.
Low claims are good sign. If few people are showing up at state unemployment agencies, it suggests that layoffs are rare and job creation is strong.
The decades-low numbers of jobless claims in recent weeks have been among the most encouraging signs about the economy.
Altogether, 1.75 million people are receiving benefits of all durations, near the lowest levels of the recovery. Unemployment benefits are available for up to 26 weeks in most states. In comparison, around 6.5 million people were on unemployment during the worst of the recession.
