The number of people filing initial applications for U.S. state unemployment benefits rose last week, but remained below levels consistent with an improving labor market, the government reported Thursday, indicating that layoffs are not widespread. The Labor Department said jobless claims rose 10,000 to 272,000 last week, the 51st consecutive week that claims remained below the 300,000 level, the longest such stretch since the early 1970s. The four-week moving average of jobless claims—considered a better gauge of labor-market trends because it smoothes weekly volatility—fell 1,250 to 272,000 last week. Job gains have been solid for the past three years, pushing the unemployment rate down to an eight-year low of 4.9 percent. Wage gains are accelerating but still remain below levels consistent with a fully healthy economy. The claims report showed the number of people still receiving unemployment benefits fell 19,000 to 2.25 million last week.
