The number of Americans filing for unemployment benefits fell last week, a sign the labor market was holding firm despite tensions between the United States and its trading partners that have led to tit-for-tat tariffs.
Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 210,000 for the week ended Aug. 18, the Labor Department said on Thursday.
It was the third straight week of declines for claims, which have dropped so low that economists have scrambled for explanations. In July, claims fell to their lowest level since 1969 even though the workforce is much larger than in prior decades.
Economists polled by Reuters ahead of Thursday’s report had forecast claims rising to 215,000 in the latest week.
via Reuters
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Alfonso Esparza
Latest posts by Alfonso Esparza (see all)
- Gold Lower as Trade and Brexit Optimism Put Pressure - 10/15/2019
- Oil Steady as Trade Optimism Fades - 10/15/2019
- The IMF Says US-China Trade War to Slow Down - 10/15/2019