The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the U.S. job market continues to show signs of strength.
Applications for jobless aid climbed by 14,000 to a total of 262,000 and now have risen five out of the last six weeks, the Labor Department reported this morning.
The four-week average for claims, which smooths out weekly ups and downs, rose by 4,500 to a total of 252,000, also the highest since November.
The number of Americans collecting traditional unemployment benefits increased by 8,000 the week that ended July 30 to 1.43 million, the highest since early April.
Unemployment applications are a proxy for layoffs and are often seen as an early indicator of where the job market is headed. Read more.
