US jobless claims rise slightly but remain near historic lows

APPLICATIONS for US unemployment benefits rose last week, but remained near historic lows, underscoring the enduring resilience of the labour market despite the Federal Reserve’s aggressive efforts to cool demand.

Initial unemployment claims increased by 9,000 to 225,000 in the week ended Dec 24, Labor Department data showed on Thursday (Dec 29). That was in line with the median forecast in a Bloomberg survey of economists.

Continuing claims, or the number of people who have already filed an initial application and are now claiming unemployment benefits, rose to 1.7 million in the week ended Dec 17, the most since early February. BLOOMBERG