Jobless Claims Fall for Third Week in Tight U.S. Labor Market
Jobless Claims Fall for Third Week in Tight U.S. Labor Market
(Bloomberg) -- U.S. filings for unemployment benefits fell for a third week and remain near the lowest in almost five decades, indicating a tight job market, Labor Department figures showed Thursday.
Highlights of Jobless Claims (Week Ended Aug. 18) |
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Key Takeaways
While applications can be volatile from week to week, the trend reinforces signs that businesses are holding on to existing staff and adding new workers to help meet demand. Economists will likely pay extra attention to Thursday’s figures because they encompass the 12th of the month, the reference period for the Labor Department surveys that produce the monthly employment figures.
Those data show the unemployment rate is near the lowest since 1969 and payrolls are climbing at a solid pace even in the 10th year of the economic expansion. The report for August is due Sept. 7.
Other Details- Prior week’s reading unrevised at 212,000
- Unemployment rate among people eligible for benefits unchanged at 1.2 percent
- Maine had estimated claims last week, according to the Labor Department
--With assistance from Jordan Yadoo and Sophie Caronello.
To contact the reporter on this story: Jeff Kearns in Washington at jkearns3@bloomberg.net
To contact the editor responsible for this story: Scott Lanman at slanman@bloomberg.net
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