Little Change in Jobless Claims Signals Strong U.S. Labor Market
U.S. unemployment benefits filings were little changed last week, hovering close to a five-decade low.
(Bloomberg) -- Filings for U.S. unemployment benefits were little changed last week, hovering close to a five-decade low that underscores a tight job market, Labor Department figures showed Thursday.
Highlights of Jobless Claims (Week Ended July 28) |
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Key Takeaways
Applications for unemployment benefits, which fell earlier last month to their lowest level since December 1969, have been trending down in the 10th year of the economic expansion. That’s consistent with a falling jobless rate and solid gains in hiring, which the July payrolls report -- due on Friday -- is projected to show.
The weekly figures complement other indicators showing businesses are having trouble finding skilled labor even as more workers re-enter the workforce seeking jobs.
Other Details- Prior week’s reading was unrevised at 217,000
- Jobless rate among people eligible for benefits held at 1.2 percent
- Maine was the only state to estimate claims last week, according to the Labor Department
--With assistance from Chris Middleton.
To contact the reporter on this story: Shobhana Chandra in Washington at schandra1@bloomberg.net
To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Vince Golle
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