Applications for new unemployment claims fell by 3,000 last week to a total of 420,000. This was slightly better than forecast but the number of people receiving unemployment insurance and extended benefits continues to rise.
Ã¢â‚¬Å“The recent signs have been pretty consistent in that theyÃ¢â‚¬â„¢ve shown some modest improvementÃ¢â‚¬Â in the labor market, said Ryan Wang, an economist at HSBC Securities USA Inc. in New York. Ã¢â‚¬Å“It still remains a challenge to generate the number of jobs required to lower the unemployment rate.Ã¢â‚¬Â
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