US weekly jobless claims hit 49-year low, labour market resilient

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

WASHINGTON: The number of Americans filing applications for unemployment benefits fell to a nearly half-century low last week, pointing to ...

WASHINGTON: The number of Americans filing applications for unemployment benefits fell to a nearly half-century low last week, pointing to sustained labour market strength despite slowing economic growth.

Initial claims for state unemployment benefits declined 10,000 to a seasonally-adjusted 202,000 for the week ended Mar 30, the lowest level since early December 1969, the Labour Department said. The dollar gained versus a basket of currencies. US Treasuries prices rose, while stocks on Wall Street were mixed.The four-week moving average of initial claims, considered a better measure of labour market trends as it irons out week-to-week volatility, fell 4,000 to 213,500 last week, the lowest level since early October 2018.

"We see the initial claims data as consistent with healthy labour market conditions and in line with the widely anticipated rebound in the pace of payroll employment in March," said Jonathan Millar, an economist at Barclays in New York.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Target raises minimum wage to US$13 an hour in tight labor marketTarget Corp will raise its U.S. minimum wage to US$13 an hour in June, from US$12 currently, increasing its payroll costs and putting new pressure ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »