The number of people applying for unemployment aid in the US reached the highest level in more than six months last week, amid growing signs the historically tight labour market could be cooling.
In the week to July 30, there were 260,000 initial jobless claims on a seasonally adjusted basis, according to labour department data released on Thursday. That was the largest weekly tally since mid-January and slightly above economists’ expectations of 259,000 claims. The claims serve as a proxy for lay-offs.
The previous week’s claims were revised down from 256,000 to 254,000, while the four-week average, which smooths week-by-week volatility, rose to 254,750, its highest point since November.
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