Jobless Claims in U.S. Unexpectedly Decline to Three-Month Low

[Purveyor]

Source: Bloomberg

July 21, 2016 — 8:30 AM EDT

The number of applications for U.S. unemployment benefits unexpectedly fell last week, reaching a three-month low, indicating the labor market remains steady.

Initial jobless claims dropped by 1,000 to 253,000 in the week ended July 16, from an unrevised 254,000 in the prior period, a report from the Labor Department showed Thursday in Washington. The median forecast of 44 economists surveyed by Bloomberg called for 265,000. Continuing claims decreased.

Employers continue to retain staff amid improving U.S. growth and a shortage of skilled workers that they’re looking to hire. Sustained low levels of firings also signal a strong outlook for the job market that will help lift household spending, the biggest part of the economy.

“Demand for labor is high,” Jacob Oubina, senior U.S. economist at RBC Capital Markets LLC in New York, said before the report. “We’re not likely to see a material increase in the trend for layoffs.”


Read more: http://www.bloomberg.com/news/articles/2016-07-21/jobless-claims-in-u-s-unexpectedly-decline-to-three-month-low

[RandySF]

1. It's been feeling like a real recovery

All my relatives are either back to work or are seeing their businesses pick up.

[Historic NY]

2. My county in the NY Metro area is 3.8%

[maxsolomon]

3. But but but

What about white men who worked in industries that have left America?

Everything is Terrible! Thanks, Obama!