New claims for US jobless benefits rose more than expected last week, to the highest level in two months, but continued a record low run, the Labor Department reported Thursday.
The result underscored the strength of labor markets, with layoffs rare as employers likely fear they may be unable to find replacement workers when needed.
New claims for unemployment insurance rose 15,000 in the week ending March 18 to 258,000, seasonally adjusted, the highest in two months. Analysts were expecting new claims to decline to 239,000 from the prior week.
Claims have remained below 300,000 a week for more than two years, the longest such streak on record since 1970.
And the less volatile four-week moving average gained only 1,000 to 240,000 claims.
Though they can see large swings from week to week, jobless claims can be used to gauge the prevalence of layoffs and the health of labor markets.
Steady job creation since mid-2016 has driven the unemployment rate down to 4.6 percent and helped persuade monetary policymakers to raise benchmark interest rates twice since December.
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