The number of Americans initially applying for unemployment aid rose last week, the second highest level in three months, while the whole job market kept stable.
In the week ending October 29, the advance figure of seasonally adjusted initial claims for jobless benefits was 265,000, an increase of 7,000 from the unrevised level of the previous week, said the U.S. Labor Department Thursday.
This is higher than the average market expectation of 258,000. The four-week moving average, which helps smooth out week-to-week volatility increased 4,750 from the previous week's unrevised average to 257,750.
This marks 87 consecutive weeks of initial claims below 300,000, a benchmark for real job growth or loss in the economy, the longest streak since 1970, said the Labor Department.
Meanwhile, the advance figure of seasonally adjusted insured unemployment during the week ending October 22 decreased 14,000 from the previous week to 2,026,000, the lowest level since June, 2000.
The U.S. total nonfarm payroll employment rose by 156,000 and the unemployment rate was 5 percent in September, making job gains have averaged 192,000 per month from July to September, according to the Labor Department.
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