adminWASHINGTON — Filings for US unemployment benefits declined last week for the first time in a month, heading back toward the lowest levels in more than a decade and signalling firings remain muted.
Jobless claims fell 15 000 to 281 000 in the week ended July 11 from a revised 296 000 in the prior period, a Labour Department report showed Thursday in Washington. The median forecast of 46 economists surveyed by Bloomberg called for 285,000.
Jobless claims can see-saw at this time of year as automakers shutter plants to retool operations for the new-model year, making it more difficult to discern the underlying trend. Firings have held below 300,000 for 19 consecutive weeks, the longest streak since 2000 and a sign of a stronger labour market.
“Claims are consistent with ongoing labour market improvement,” said Sean Incremona, senior economist at 4Cast Inc. in New York, whose forecast for 280 ,000 filings tied for the closest in the Bloomberg survey.
“Claims continue to tell us that not many people are losing their jobs.” — Bloomberg
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