U.S. initial jobless claims rise to 254,000

The number of Americans initially applying for unemployment aid rose last week, while the total job market kept stable.

In the week ending Sept. 24, the advance figure of seasonally adjusted initial claims for jobless benefits rose to 254,000, an increase of 3,000 from the revised level of the previous week, the U.S. Labor Department said Thursday.

The data is better than the market expectation of 260,000, and the four-week moving average, which helps smooth out week-to-week volatility, decreased 2,250 from the previous week's revised average to 256,000.

This marks 82 consecutive weeks of initial claims below 300,000, a benchmark for real job growth or loss in the economy, the longest streak since 1970, said the Labor Department.

Meanwhile, the advance figure of seasonally adjusted insured unemployment during the week ending Sept. 17 decreased 46,000 from the previous week to 2,062,000.

"Job gains averaged about 180,000 per month over the past four months, about the same solid pace recorded since the beginning of the year," U.S. Federal Reserve chair Janet Yellen said last week.

The Fed expected the U.S. labor market conditions would strengthen somewhat further over time. Endit