US weekly requests for jobless aid rise to still-low 248,000

Economic Indicators Associated Press

Applicants fill out forms during a job fair at the Southeast LA-Crenshaw WorkSource Center in Los Angeles November 20, 2009. REUTERS/Mario Anzuoni (Copyright Reuters 2017)

Slightly more Americans applied for jobless aid last week, but the number of people seeking benefits has stayed near historic lows that point to a robust job market.

Continue Reading Below

The Labor Department said Thursday that weekly applications rose by 4,000 to a seasonally adjusted 248,000. The less volatile four-week average rose 750 to 243,000.

Applications are linked to layoffs. Jobless claims have come in below 300,000 for 122 weeks in a row. That's the longest such stretch since 1970 when the U.S. population was much smaller.

Employers have hired this year at a slower pace as the unemployment rate has fallen to a healthy 4.3 percent. The Labor Department's employment report to be released Friday is expected to show job gains in June of roughly 180,000.

What do you think?

Click the button below to comment on this article.