Summary Initial jobless claims rose by 17,000 to 283,000 in the week ending October 18.
WASHINGTON (AFP) - New claims for US unemployment insurance benefits rose slightly last week but remained below 300,000 for the sixth straight week, government data released Thursday showed.
Initial jobless claims rose by 17,000 to 283,000 in the week ending October 18, the Labor Department said. The prior week s level of 264,000, the lowest level in 14 years, was revised up to 266,000.
The increase in jobless claims, a sign of the pace of layoffs, was smaller than analysts expected, with the average estimate pegged at 285,000.
The four-week moving average dropped by 3,000 to 281,000, the lowest level since May 2000. A year ago the average stood at 345,500.
The unemployment rate fell to 5.9 percent in September, its lowest level in six years, amid job growth.
"The decline in claims is not fully mirrored in indicators of the pace of hiring, but together the data are consistent with very strong payroll growth, of the order of 250,000-plus per month," said Ian Shepherdson of Pantheon Macroeconomics.
