More Americans sought unemployment aid last week, though the number of applications was still consistent with steady hiring.
The Labor Department said Thursday that weekly applications rose 31,000 to a seasonally adjusted 313,000, the most in six weeks. The four-week average, a less volatile measure, increased 11,500 to 294,500.
Applications are a proxy for layoffs. The average has been near or below 300,000 since September, a historically low number that suggests companies are holding onto their staffs and may even be stepping up hiring.
"Despite larger-than-expected weekly swings, the trend in claims remains consistent with an improving labor market," Derek Lindsey, an economist at BNP Paribas, said in a note to clients.
Jim O'Sullivan, an economist at High Frequency Economics, said the current four-week average is similar to the average in the final three months of last year. Employers added an average of 324,000 jobs each month in the fourth quarter.
