US Jobless Claims Fall by 11,000

The number of new claims for jobless benefits for the week ended July 24th, fell by 11,000 from the week before to 457,000 new claims. Overall however, the number of people receiving unemployment benefits increased raising concerns that job growth in the US is slowing.

“It does feel like there’s been a little bit of a deceleration in the pace of hiring,” Stephen Stanley, chief economist at Pierpont Securities LLC in Stamford, Connecticut, said before the report. “It relates to a lot of fear and uncertainty around the sustainability of the recovery.”

Source: Bloomberg

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