The number of US unemployment insurance applications increased for a second week and remained close to the highest level seen since November, signalling a further easing of the labour market despite the fact that circumstances are still tight as the Federal Reserve attempts to cool demand to help control inflation.
Initial claims for state unemployment benefits rose 14,000 to a seasonally adjusted 262,000 for the week ending August 6, according to US Department of Labor figures released on Thursday. That still falls short of the 270,000–300,000 target, which economists believe would indicate a significant downturn in the jobs economy.
