Applications for US jobless aid tick up to still-low 241,000

WASHINGTON — Slightly more people sought US unemployment benefits last week, but the number of applications remained at a historically low level that suggests the job market is healthy.

THE NUMBERS: The Labor Department says weekly applications rose 3,000 to a seasonally adjusted 241,000. The less-volatile four-week average ticked up 1,500 to 244,750.

The number of people receiving unemployment benefit checks rose 8,000 to 1.94 million. That figure has fallen by more than 9 per cent in the past year.

THE TAKEAWAY: Applications are a proxy for layoffs, and they have come in below 300,000, a historically low level, for 120 weeks in a row. That’s the longest such stretch since 1970. The figure echoes other recent data that suggest businesses need workers. Employers have added jobs at a steady pace this year, though somewhat slower than in 2016, and the unemployment rate is at a 16-year low of 4.3 per cent.