Jobless claims rise 7,000 in latest week

WASHINGTON (Reuters) - The number of U.S. workers applying for jobless benefits rose by 7,000 last week to a level slightly higher than expected but still underscoring steady labor market conditions, government data on Thursday showed.

Initial claims for state unemployment insurance benefits rose for a second straight week to a seasonally adjusted 316,000 in the week ended August 4, from an upwardly revised 309,000 the prior week, the Labor Department said.

Last week's rise exceeded Wall Street economists' forecasts for 310,000 claims after an original reading of 307,000 in the week ended July 28.

The four-week moving average, a more reliable measure of labor market trends because it irons out weekly fluctuations in the data, inched up to 307,750 in the week ended August 4, from 306,000.

Meanwhile, the number of people remaining on state benefit rolls rose by 39,000 to 2.56 million in the week ended July 28, the latest period these figures were available.