U.S. weekly jobless claims rise; labor market still tightening

WASHINGTON - The number of Americans filing applications for unemployment benefits increased last week, but the trend in claims remained consistent with tightening labor market conditions.

The U.S. central bank on Wednesday lowered its benchmark overnight rate for the first time since 2008, to insure against downside risks to the economy from the trade tensions and slowing global growth. Fed Chairman Jerome Powell said the preemptive monetary policy easing was “not the beginning of a long series of rate cuts.”

U.S. financial markets were little moved by the data as investors continued to digest Wednesday’s rate decision and Powell’s comments.

That's odd... My company is paying 20 bucks an hour and we can't get people in the door to apply

The way the US counts its unemployed means that these numbers can never be trusted.

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