The data from
the Labor Department revealed on Thursday the number of applications for
unemployment benefits increased moderately last week, pointing to sustained
labor market strength despite slowing economic growth.
According to
the report, the initial claims for unemployment benefits rose by 4,000 to a
seasonally adjusted 215,000 for the week ended August 24.
Economists had
expected 215,000 new claims last week.
Claims for the
prior week were revised upwardly to 211,000 from the initial estimate of
209,000.
Meanwhile, the
four-week moving average of claims went down 500 to 214,500 last week.