The U.S. labor market continues to struggle with the summer doldrums as more people than expected filed for unemployment benefits last week. Initial claims increased by 10,000 over the previous week to a seasonally adjusted 418,000, the Labor Department said on Thursday.
“We’re just stuck in this trend between 410,000 and 430,000. Generally we’re just really not seeing any improvement but also not much worsening,” said Jeffrey Greenberg, an economist with Nomura Securities in New York.
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