Little Change in Jobless Claims Signals Strong U.S. Labor Market

(Bloomberg) -- Filings for U.S. unemployment benefits were little changed last week, hovering close to a five-decade low that underscores a tight job market, Labor Department figures showed Thursday.

Key Takeaways

Applications for unemployment benefits, which fell earlier last month to their lowest level since December 1969, have been trending down in the 10th year of the economic expansion. That’s consistent with a falling jobless rate and solid gains in hiring, which the July payrolls report -- due on Friday -- is projected to show.

The weekly figures complement other indicators showing businesses are having trouble finding skilled labor even as more workers re-enter the workforce seeking jobs.