First-time claims for unemployment benefits came in at 254,000 in the third week of September, the Department of Labor reported Thursday, just barely up from an ultra-low 252,000 the week before.
Private-sector economists had anticipated that jobless claims would rise slightly to 260,000.
Claims, which are adjusted for seasonal variations, are closely watched by economists because they send a frequently updated signal about the health of the labor market.
Fewer claims means fewer layoffs and, accordingly, higher net job creation.
Thursday’s report is thus more good news for the economy, from one of the indicators that has been the most promising in recent months.
New claims have averaged 258,500 over the past month, well under the 300,000 mark that economists think would suggest a rising unemployment rate.
At 4.9 percent in August, the unemployment rate was not far from where officials at the Federal Reserve think it would be if the economy were running at full strength. And job creation has averaged 232,000 in the past three months, roughly double the number needed to keep unemployment trending down.
Continued good news from the jobless claims numbers are likely to weigh in favor of raising interest rates when Fed officials next meet to discuss monetary policy in November.
