WASHINGTON: The number of Americans filing applications for unemployment benefits increased moderately last week, pointing to still strong labour market conditions despite signs that economic activity was slowing.
Initial claims for state unemployment benefits rose 8,000 to a seasonally-adjusted 216,000 for the week ended Jul 13, the Labour Department said, remaining in the middle of their 193,000-230,000 range for this year. Last week's increase in claims was in line with economists' expectations.The claims data tends to be volatile around this time of the year because of summer factory closures, especially in the automobile industry, which occur at different periods.
The Fed's Beige Book report of anecdotal information on business activity collected from contacts nationwide published on Wednesday showed some manufacturing and information technology firms in the Northeast reduced their number of workers from mid-May through early July. The slowdown in activity was underscored by a second report on Thursday from the Conference Board showing its measure of future economic growth fell for the first time in six months in June.