The number of Americans filing for unemployment benefits fell last week as layoffs remain relatively low despite other signs of labor market cooling.
Jobless claims fell by 5,000 to 227,000 for the week of Aug. 31, the Labor Department reported Thursday. That’s less than the 230,000 new filings analysts were expecting.
The four-week average of claims, which evens out some of the week-to-week volatility, fell by 1,750 to 230,000.
Weekly filings for unemployment benefits, which are considered a proxy for layoffs, remain low by historic standards.
The total number of Americans collecting jobless benefits declined by 22,000 to 1.84 million for the week of Aug. 24.