US jobless benefit applications rise modestly as labor market unfazed by trade war

Slightly more Americans filed for unemployment benefits last week, but the labor market remains broadly healthy despite an ongoing trade war.

Jobless claim filings inched up by 4,000 to 223,000 for the week ending April 5, the Labor Department said Thursday. That’s less than the 225,000 new applications analysts forecast.

Weekly applications for jobless benefits are considered a proxy for layoffs, and have mostly ping-ponged between 200,000 and 250,000 for the past few years.

The four-week average of applications, which aims to smooth out some of the week-to-week swings, was unchanged at 223,000.

The total number of Americans receiving unemployment benefits for the week of March 29 fell by 43,000 to 1.85 million.