The number of Americans filing new claims for unemployment benefits increased moderately last week as the labour market continues to show few signs of a significant slowdown.
Though the labour market is gradually cooling, conditions remain tight, highlighting the economy’s enduring strength. The government reported on Wednesday that there were 1.5 job openings for every unemployed person in September. The number of people receiving benefits after an initial week of aid, a proxy for hiring, advanced 35,000 to 1.818 million during the week ending Oct. 21, the claims report showed. The so-called continuing claims have increased in recent weeks, but economists said that mostly reflected difficulties adjusting the data for seasonal fluctuations rather than a material change in the underlying trend.
The claims report has no bearing on October’s employment report, scheduled for release on Friday, as the data fall outside the survey period.
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