Jobless claims rose to 268,000 in the third week of June, the Department of Labor reported Thursday morning, up only slightly from the previous week’s ultra-low level of 259,000.
The report was right in line with the expectations of private-sector economists.
With Thursday’s low number, the jobless claims are once again sending the signal that the jobs recovery remains on course, despite slowing job growth in recent months and uneven data in other economic reports.
Initial claims, which are adjusted to remove predictable seasonal variations, have been running below 300,000 for 69 straight weeks, the longest such streak since 1973.
Economists calculate that claims below 300,000 signal downward pressure on unemployment. The unemployment rate, at 4.7 percent in May, is plumbing new post-recession lows.
Low numbers of claims suggest relatively few layoffs, and in turn, robust net job creation. Thursday’s numbers should reassure investors and policymakers concerned about the recent slowdown in payroll jobs growth, which has averaged just 116,000 jobs over the past three months, down from 200,000 in last year.
