Applications for US unemployment benefits were little changed last week, remaining near a historically low level. Initial unemployment claims increased by 2,000 to 216,000 in the week ended Dec. 17, Labor Department data showed Thursday.
Claims have risen from the spring but remain low, suggesting that employers are holding on to workers despite concerns about an economic slowdown. The unemployment claims number last week was below the 2019 weekly average of 218,000, when the labor market was also very strong.
The four-week moving average of weekly claims, which smooths out volatility, decreased last week by 6,250 to a seasonally adjusted 221,750. Continuing claims, which reflect the number of people seeking ongoing unemployment benefits, moved down by 6,000 to 1,672,000 in the week ended Dec. 10.
Continuing claims, while still low, have slowly climbed since mid-September. That could be a sign that some unemployed people are taking longer to find new jobs. Some big companies have announced layoffs in recent months as they grapple with the prospect of an economic slowdown and higher interest rates.
Employers added 263,000 jobs in November, down slightly from the previous three months when they averaged 282,000 a month, the Labor Department said. Job growth has slowed from the first half of the year, a sign that employers are growing more cautious in an uncertain economic environment.
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