The data from
the Labor Department revealed on Thursday the number of applications for
unemployment benefits increased slightly last week, suggesting little impact on
the labor market from ongoing trade tensions.
According to
the report, the initial claims for unemployment benefits rose by 1,000 to a
seasonally adjusted 217,000 for the week ended August 31.
Economists had
expected 215,000 new claims last week.
Claims for the
prior week were revised upwardly to 216,000 from the initial estimate of 215,000.
Meanwhile, the
four-week moving average of claims increased 1,500 to 216,250 last week.