US jobless claims rise slightly, but remain near historic lows

Applications for US unemployment benefits rose last week, but remained near historic lows, underscoring the enduring resilience of the labour market despite the Federal Reserve’s aggressive efforts to cool demand.

Initial unemployment claims increased by 9,000 to 225,000 in the week ended December 24, labour department data showed on Thursday. That was in line with the median forecast in a Bloomberg survey of economists.

Continuing claims, or the number of people who have already filed an initial application and are now claiming unemployment benefits, rose to 1.7 million in the week ended December 17, the most since early February. The sustained upward trend suggests it’s been more difficult for out-of-work individuals to find new jobs. The data can be difficult to seasonally adjust around major holidays.