"The economy is growing, but it's still moderate growth, and the labor market is still weak"
- Scott Anderson, chief economist at Bank of the West
The number of Americans claiming for unemployment benefits rose slightly to 372,000 in the week ended August 18 from 368,000 the week before, said the Department of Labor on Thursday.
A separate report showed U.S. new home sales rose in July to the highest level in two years. Sales of new build houses jumped to an annual rate of 372,000 from 359,000 in June, said the Department of Commerce.
"The economy is growing, but it's still moderate growth, and the labor market is still weak," said Scott Anderson, chief economist at Bank of the West in San Francisco.
"We're also getting better numbers in terms of building activity. That's certainly adding to growth and offsetting some of the weakness we're seeing from the consumer."
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