The number of Americans filing new applications for jobless benefits slipped last week, but re-employment opportunities for laid-off workers are becoming more scarce, a sign that the unemployment rate probably remained elevated in August.

U.S. stocks traded slightly higher this morning, with the Nasdaq Composite gaining around 0.2% on Thursday. Following the market opening Thursday, the Dow traded up 0.06% to 41,000.33 while the NASDAQ rose 0.

The number of Americans filing for unemployment benefits fell last week as layoffs remain relatively low despite other signs of labor market cooling.