The number of Americans filing for unemployment benefits fell to 206,000 in the week ending August 15, down from an upwardly revised 212,000 the prior week, the Labor Department reported on Thursday.
Economists had expected claims to reach 210,000, according to a Reuters survey. Jobless claims have remained mostly within a narrow band of 189,000 to 230,000 throughout the year, reflecting a relatively stable labor market despite recent volatility in payroll data.
The four-week moving average of initial claims increased to 204,000 from 199,750, indicating a slight upward trend in layoffs over the past month. Continuing claims, which track the total number of people receiving benefits, rose to 1.799 million from 1.781 million the previous week, exceeding forecasts of 1.790 million.
The latest figures follow a surprise decline of 23,000 in nonfarm payrolls last month, alongside downward revisions to payroll growth in May and June. Some economists attribute the summer slowdown to seasonal adjustment challenges tied to the timing of the school year, as noted by Reuters.
