New U.S. jobless claims came in below market expectations, keeping the labor market on a steady path.
The Labor Department said on the 30th (local time) that initial jobless claims last week totaled 197,000. That was up 9,000 from the previous week but short of the 200,000 forecast compiled by Dow Jones.
Claims for the prior week were revised up to 188,000 from the previously reported 187,000. Even the revised figure is the lowest level in about 57 years, since September 1969.
Continuing claims, which show the number of people receiving unemployment benefits for two weeks or more, were 1,848,000 for July 12–18, up 1,800 from the previous week.
Experts said the U.S. labor market has entered a "slow hiring, slow firing" phase, with both hiring and layoffs proceeding more slowly without large-scale layoffs or aggressive new hiring.