US unemployment claims tick up but remain at low level
WASHINGTON — More Americans filed for unemployment benefits last week, but applications remained at a low level that suggests most workers enjoy job security.
THE NUMBERS: The Labor Department says weekly jobless claims rose by 14,000 to 257,000, the highest level in almost a month. The less volatile four-week average slipped by 500 to 242,250, lowest since late February.
Overall, 1.99 million Americans are collecting unemployment benefits, down more than 7 per cent from a year ago.
THE TAKEAWAY: Jobless claims are a proxy for layoffs. They have come in below 300,000 for 112 straight weeks, the longest streak since 1970. The numbers suggest that most American workers are secure in their jobs.