"It [unemployment claims data] is certainly further evidence the labor market doesn't look like it's in danger of falling off a cliff"
- Jeremy Lawson, senior U.S. economist at BNP Paribas
The number of Americans claiming for unemployment benefits rose slightly to 366,000 in the week ended August 11 from an upwardly revised 364,000 the week before, said the Department of Labor on Thursday.
"It's certainly further evidence the labor market doesn't look like it's in danger of falling off a cliff," said Jeremy Lawson, senior U.S. economist at BNP Paribas in New York. "At the same time, the hiring rate is still fairly soft."
Also Thursday, a report showed housing starts retreated in July to an annualized rate of 746,000, down from 754,000 in June, the highest reading in almost four years.
"The housing market is continuing to heal and should be a major part of growth in the quarters ahead," wrote Joel Naroff, president of Naroff Economic Advisors.
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