Applications for US jobless aid tick up to still-low 277K

In this June 10, 2015, photo, job seekers get information at a job fair in Sunrise, Fla.

The number of Americans filing new applications for unemployment benefits unexpectedly rose last week, but the trend remained consistent with solid labor market momentum that could keep the Federal Reserve on track to raise interest rates this year. A Labor Department analyst said there were no special factors influencing the data and no states had been estimated.

The report also said the less volatile four-week moving average rose to 271,500, an increase of 5,500 from the previous week’s revised average of 266,000.

Purposes, that are a proxy for layoffs, are close to the bottom ranges in 15 years. Two weeks ago, the four-week average dropped to its lowest point since April 2000.

Thursday’s claims report showed the number of people still receiving benefits after an initial week of aid fell 24,000 to 2.25 million in the week ended August. 8. Many former recipients have discovered jobs, whereas others have exhausted their advantages.

Initial claims for unemployment insurance, which are adjusted for seasonal fluctuations, have been running below 300,000 each week since February.

The economy created 215,000 jobs in July and has added an average 235,000 over the past three months. That’s boosting spending and serving to the financial system to develop. The unemployment rate stands at 5.3 per cent. Job openings remain relatively high, suggesting employers continue to expand.

Common hourly pay elevated simply 2.1 % in July from 12 months earlier, far under the three. 2 % common annual achieve for the previous six many years.