Jobless benefits applications up 8,000

First-time applications for jobless benefits ticked up 8,000 last week to 339,000, an indicator that the labor market recovery remains relatively steady. 

The four-week moving average, which better reflects the health of the labor market, increased 3,5000 to a seaonally adjusted 336,750, the Labor Department said Thursday. 

{mosads}The figures suggest that businesses are laying off fewer workers.

The job market has gone through a rough patch the past couple of months. 

In December, employers added only 75,000 jobs and gains registered only 113,000 in January. That is down from a nearly 200,000 monthly average through most of last year. 

Cold weather has been blamed for the slowdown, which could slip into February. 

Still, economists say they expect the nation’s economic growth to accelerate this year and with it jobs growth over the next several months. 

Mark Zandi, chief economist with Moody’s Analytics, has said that he expects the average to rise to 225,000 from the 200,000 this year. 

The cold weather definitely had an effect on retail sales in January, as shoppers pulled back their spending by 0.4 percent, the Commerce Department said in a separate report.

December sales were slower than expected, too.

Federal Reserve Chairwoman Janet Yellen told lawmakers this week that she intends to stay the course on reducing the central bank’s monetary stimulus although she did acknowledge that she was surprised at the slowdown in the labor market’s growth and said its recovery is “far from complete.”