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Economic Report: U.S. jobless claims climb 10,000 to 244,000

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Every company seems to be hiring these days, keeping layoffs near the lowest level since the 1970s.

WASHINGTON (MarketWatch)—The number of Americans who applied for unemployment benefits rose in late July but remained near the lowest level in decades, underscoring a red-hot labor market that shows little sign of cooling.

Initial jobless claims in the period running from July 16 to July 22 increased by 10,000 to a seasonally adjusted 244,000, the Labor Department said Thursday.

The average of new claims over the past month, which gives a more stable picture of layoff trends, was unchanged at 244,000.

Claims often bounce up and down in July when auto makers typically close plants to retool in preparation for model switch-overs.

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