New applications for unemployment benefits in the US showed a small increase, which were maintained at satisfactory levels for the pace of the economy.
In particular, as announced by the country’s Ministry of Labor, applications for unemployment benefits increased by 14,000 in the week ending August 6 and reached 262,000.
The size was broadly in line with analysts’ average estimate of 263,000 new claims, but up from the week before when the reading was revised downward to 248,000 from the 260,000 initially reported.
It is noted that the reading remains below the range of 270,000 to 300,000, which constitutes a level that economists consider to signal a significant slowdown in the labor market.
Meanwhile, the number of people continuing to receive unemployment benefits rose marginally by 8,000 to 1.428 million in the week ended July 30.
Source: Capital
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