US jobless claims rose less than expected

Applications for unemployment benefits in the US in the week ended on September 10 slightly grew. Jobless claims rose by 1,000 to 260,000 from 259,000 the previous week. Analysts' forecasts were instead for an uphill 265,000. Applications have come in below 300,000 for 80 straight weeks, longest streak since 1970.

The four-week average, according to data of the US Department of Labor, has stabilized at 260,750 units, down from 500 units compared to the previous week. This data is considered a more accurate indicator of labor market health because it smoothes out the strong weekly fluctuations observed.

In the week ended September 3, the number of people continuing to receive jobless benefits climbed, by 1.000, at 2.142 million. The four-week average stood at 2,146,750 units, down by 8,000 from the previous week.

"In short, claims remain low, consistent with a still-strong trend in employment growth," wrote Jim O'Sullivan, an economist for the forecasting firm High Frequency Economics.