U.S. workers filing first-time unemployment claims fell last week to their lowest levels in the last month.
Statistics released Thursday by the U.S. Department of Labor showed claims fell to 228,000 for the week ending Aug. 25. That’s down 4,000 claims from the previous week and the lowest total in a month.
The number of people filing for unemployment insurance is one gauge used to view the country’s employment stability.
Those filing for first-time unemployment benefits had reached a 2023 high of 265,000 for the week ending June 17. The total dipped as low as 221,000 for the week ending July 22 before rising again. The weekly filing count had been as low as 194,000 in January, UPI reported.
It’s the third straight week the total has dropped, and it fell for the sixth time in the last eight weeks.
The four-week moving average for those filing for unemployment insurance for the first time increased 500 applicants from last week to 237,500.
The Labor Department reported that the overall number of those applying for unemployment benefits for the week ending Aug. 19 was more than 1.7 million, an increase of some 28,000 from the previous week’s revised level.
