First-time claims for unemployment insurance rose to 282,000 for the last full week of August, the Labor Department reported Thursday, up from 270,000 the week before.
Wall Street had expected 273,000 claims for benefits.
Layoffs have been increasingly rare throughout the year, as measured by initial claims. Despite Thursday’s report showing an increase, claims haven’t eclipsed the 300,000 mark since February.
The four-week moving average for claims rose by 3,250 to 275,500. In recent weeks, average claims have touched the lowest levels in decades.
Low claims on unemployment benefits and few layoffs are viewed as positive signs for job growth. So far, claims have remained low even as a strong dollar has placed pressure on manufacturers, cratering oil prices have slowed domestic production, and, more recently, financial markets have suffered high volatility.
Thursday’s report did not appear to reflect any of those pressures. The states that saw the biggest increases in claims were Pennsylvania, New York, and Ohio.
Private-sector economists expect that the payroll jobs report for August set to be released Friday will show a gain of 223,000 new jobs, according to Bloomberg. That number would be roughly in line with job creation throughout the year, and could send the unemployment rate down from its current 5.3 percent.
A year ago, unemployment stood at 6.2 percent. The overall improvement in unemployment has been mirrored in fewer people relying on unemployment insurance. Altogether, in mid-August 2.21 million workers claimed benefits of all duration, which are available for up to 26 weeks. The comparable number a year earlier was 2.46 million.
