U.S. jobless claims fall in sign of labor market strength

WASHINGTON - The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession.

The decline was sharper than expected. Economists polled by Reuters had forecast claims would drop to 216,000 in the latest week.The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, edged up 500 to 214,500 last week.

There are few signs a bitter trade war between the United States and China was spilling over to the national labor market, although growth in manufacturing jobs has slowed this year.

So not recession? 😂 Media just jumps from one crazy thing to the next.

Are you sure

Singapore Singapore Latest News, Singapore Singapore Headlines

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

U.S. crude oil stocks fall 3.5 million barrels: APIU.S. crude stocks fell last week while gasoline inventories decreased and distil... Nobody wants oil now damaging the planet What would they do now? Hit another country with a war? Oh nooooo! The world is going to end!
Source: Reuters - 🏆 2. / 97 Read more »

OPEC's market share sinks - and no sign of wavering on supply cutsOPEC's share of the global oil market has sunk to 30%, the lowest in years,... This is a big deal and we probably won’t hear about it today on any major TV news outlet...
Source: Reuters - 🏆 2. / 97 Read more »