Applications for jobless benefits are still near the lowest level in more than four decades and indicate employers want to hold on to existing staff amid a shortage of qualified workers. Steady hiring and low unemployment are helping to sustain consumer spending, the biggest part of the economy. Claims had surged in the initial aftermath of hurricanes Harvey and Irma that affected Texas, Florida and Georgia. Filings last week were estimated for South Carolina and the Virgin Islands, according to the Labor Department.
Unemployment Claims increased to 235,000
U.S. filings for unemployment benefits rose last week from the lowest level since 1973, consistent with a steady job market, Labor Department figures showed Thursday. Jobless claims increased by 10k to 233k (est. 235k). Continuing claims fell by 3k to 1.89m in week ended Oct. 14, lowest since December 1973 (data reported with one-week lag). Less-volatile four-week average of initial claims declined to 239.5k from 248.5k in prior week.
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