By Bryan Mena 
 

New applications for unemployment benefits rose for the third week in a row, amid separate signs that the U.S. labor market remains unusually tight.

Initial jobless claims, a proxy for layoffs, increased by 21,000 to a seasonally adjusted 218,000 last week from the previous week's revised level of 197,000, the Labor Department said Thursday. Despite the recent rise, claims remain historically low with last week's figure matching the 2019 average ahead of the Covid-19 pandemic.

The four-week average for claims, which smooths out volatility in the weekly figures, rose to 199,500 from the previous week's revised 191,250, the Labor Department said Thursday. The four-week average reached 170,500 last month, its lowest point on records dating back to 1967.

Continuing claims, a proxy for the total number of people receiving payments from state unemployment programs, declined to 1.3 million for the week ended May 7 from the previous week's level--the lowest level since December 1969. Continuing claims are reported with a one-week lag.

Write to Bryan Mena at bryan.mena@wsj.com

(END) Dow Jones Newswires

May 19, 2022 09:00 ET (13:00 GMT)