The number of Americans filing for unemployment benefits rose more than expected last week, but remained below a level that is associated with a strong labor market.
Initial claims for state unemployment benefits increased 13,000 to a seasonally adjusted 260,000 for the week ended Oct. 15, the Labor Department said on Thursday.
That marked 85 straight weeks of claims below the 300,000 threshold normally associated with a strong jobs market, the longest such period since 1970, when the labor market was much smaller.
Economists had forecast first-time applications for jobless benefits rising to 250,000 in the latest week.
U.S. financial markets were little moved by the data.
via Reuters