Jobless Claims in U.S. Holding Just Above a Four-Decade Low
Source: Bloomberg
Applications for unemployment benefits in the U.S. are hovering close to a four-decade low, a sign of muted firings and steady progress in the labor market.
Jobless claims rose by 5,000 to 274,000 in the week ended Aug. 8, from a revised 269,000 in the prior period, a report from the Labor Department showed Thursday. The four-week moving average, a less-volatile measure of job cuts, declined to the lowest level in more than 15 years.
Limited staffing reductions indicate employers are content with headcounts as U.S. demand holds up against weaker global markets. Another report Thursday showed retail sales climbed in July as hiring keeps consumers spending and the economy growing.
“We haven’t seen claims at a 300,000 level since February and the economy has shown a lot of signs of improvement since then, ignoring what’s going on beyond the borders,” Jennifer Lee, a senior economist at BMO Capital Markets in Toronto, said before the report.
Read more: http://www.bloomberg.com/news/articles/2015-08-13/jobless-claims-in-u-s-holding-just-above-a-four-decade-low
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