Jobless claims fall, labor market recovery advances
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
The number of Americans filing new claims for unemployment benefits fell last week by a surprisingly large 16,000, offering reassurance the bottom is not falling out of the labor market despite signs of slower growth.
Initial claims for state unemployment benefits dropped to a seasonally adjusted 339,000, the Labor Department said on Thursday. The prior week's number was revised to show 3,000 more applications than previously reported.
"The trend suggests a very slow improvement in the labor market," said Gary Thayer, a macro strategist at Wells Fargo Advisors in St. Louis. "The drop in new jobless claims is positive news, suggesting the recovery is continuing."
Analysts had expected 351,000 new claims last week.
The report runs counter to several weeks of signals that economic activity has softened in March and early April, a phenomena that economists have dubbed the spring swoon because it also happened in the previous two years.
read more ...