Weekly Jobless Claims Tick Up, But Average Near 8-Year Low

Weekly claims for unemployment insurance benefits edged up to a level not seen since June 28, according to the U.S. Labor Department. Claims during the week ended Sept. 6 rose 3.6 percent to 315,00, from 304,000 a week earlier. The recent period included the Labor Day holiday, which introduced volatility, the agency said. Yet the more stable four-week moving average was 304,000, up just 0.24 percent from the previous week and near an eight-year low. The average hit a 2014 low Aug. 2 of 296,000, and has moved up slightly in the past couple of weeks. August's official unemployment rate fell to 6.1 percent from 6.2 percent, although only people actively looking for jobs are counted. That's well below recent peak level of 10 percent, but Federal Reserve officials generally view unemployment rates of a little above 5 percent as acceptable in the long run. There were 4.7 million job openings on the last business day of July, little changed from June, the U.S. Bureau of Labor Statistics said Tuesday. Also during July, there were 4.9 million hires and 1.7 million layoffs.