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US jobless claims tick higher

The Labor department's July report is expected to show an unchanged unemployment rate at 5.3 percent, a seven-year lowNew claims for US unemployment insurance benefits edged higher for a second straight week but remained at a low level as the jobs market improves, government data released Thursday showed. Initial jobless claims, a sign of the pace of layoffs, rose to 270,000 in the week ending August 1, an increase of 3,000 from the prior week’s unrevised level of 267,000, the Labor Department reported. The Labor Department said there were no special factors influencing the claims data.

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