The number of people filing for unemployment benefits for the first time rose by 13,000, as there were 196,000 Initial Jobless Claims reported in the latest week. While this was higher than estimates, it is still low on a historical basis. Continuing Claims, which measure people who continue to receive benefits after their initial claim is filed, rose 38,000 to 1.688 million, the highest amount since the latter part of December.

What’s the bottom line? We are continuing to see a tight labor market where companies are doing their best to hold on to workers. However, Continuing Claims have risen by more than 300,000 over the last four months, which also suggests it’s becoming harder for many to find a job if they are let go.