The number of new applications for US unemployment benefits increased last week but remained at historically low levels, indicating resilience in the labor market despite the slowing economy.
There were 232,000 initial unemployment claims on a seasonally adjusted basis in the week ending May 27, according to US Labor Department data released Thursday. That was just shy of analysts’ expectation of 235,000 claims, but was higher than the upwardly revised reading for prior weeks of 230,000 claims.
Continuing jobless claims, which measures the number of Americans actively receiving unemployment assistance, rose to 1.795 million in the week ended May 20, just short of economists’ forecasts of 1.8 million claims.
Separately, the private sector added 278,000 jobs in May, according to payroll processor ADP, beating expectations, in another sign of labor market strength ahead of Friday’s jobs report.