US Jobless Claims Rise to 397,000

Recent improvements in the fight against unemployment in the US took a step backwards last week as the number of new claims for jobless benefits rose by 26,000 to 397,000.

“We’re just giving back the distortions from the holiday in the prior week,” said Mike Englund, chief economist at Action Economics LLC in Boulder, Colorado. “It does appear that tightening in the labor market has gained a little steam.”

Source: Bloomberg

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