U.S. Jobless Claims Increase to Three-Week High of 213,000

(Bloomberg) -- Filings for U.S. unemployment benefits rose for a second week but remained near historically low levels, a sign the labor market remains broadly robust.

Jobless claims rose 3,000 to a three-week high of 213,000 in the week ended Sept. 21, according to Labor Department figures released Thursday that were about in line with estimates in Bloomberg's survey. The four-week average, a less-volatile measure, fell to 212,000, the lowest since late July.

Key Insights

• The trend toward fewer claims underscores how the labor market continues to support consumers and the broader economy even amid cooling in some sectors such as manufacturing. Unemployment claims in recent months have been relatively stable near the lowest levels in almost a half century as employers continue to add jobs.
  
• The unemployment rate among people eligible for benefits fell to 1.1% in the week ended Sept. 14 from 1.2% after remaining unchanged for more than a year.
  
• The Labor Department will issue its September jobs report next week, giving an indication whether the recent slowdown in hiring is deepening. Economists expect private hiring to rebound from August's weakness but remain below last year's pace.
  
• A separate report Thursday from the Commerce Department showed gross domestic product grew at an unrevised 2% annualized rate in the second quarter, matching forecasts.
  

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• Continuing claims, also reported with a one-week lag, fell 15,000 to 1.65 million.
  
• Economists surveyed by Bloomberg had forecast that claims would rise to 212,000.
  

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