US New Jobless Claimants Fall 23,000

The number of newly-unemployed filing for benefits claims fell by 23,000 last week to a total of 452,000 for the week. The US Labor Department also revised last weeks figures higher by 13,000.

Despite the improvement, claims are “still consistent with a sluggish labor market,” said Jonathan Basile, an economist at Credit Suisse in New York. “We’ve been stuck in a range for most of the year. It doesn’t tell you that the layoff trend has improved dramatically this year.”

Source: Bloomberg

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