Filings for U.S. unemployment benefits were little changed last week, hovering close to a five-decade low that underscores a tight job market, Labor Department figures showed Thursday.
Jobless claims edged up by 1,000 to 218,000 (estimates were for 220,000).
Continuing claims fell by 23,000, the biggest drop since June 2, to 1.72 million in the week ended July 21 (data reported with one-week lag).
Four-week average of initial claims, a less-volatile measure than the weekly figure, decreased to 214,500, lowest since the period ended May 12.
Applications for unemployment benefits, which fell earlier last month to their lowest level since December 1969, have been trending down in the 10th year of the economic expansion. That's consistent with a falling jobless rate and solid gains in hiring, which the July payrolls report — due on Friday — is projected to show.
The weekly figures complement other indicators showing businesses are having trouble finding skilled labor even as more workers re-enter the workforce seeking jobs.
Prior week’s reading was unrevised at 217,000.
Jobless rate among people eligible for benefits held at 1.2%.
Maine was the only state to estimate claims last week, according to the Labor Department.
