The number of newly-unemployed filing for benefits claims fell by 23,000 last week to a total of 452,000 for the week. The US Labor Department also revised last weeks figures higher by 13,000.
Despite the improvement, claims are “still consistent with a sluggish labor market,†said Jonathan Basile, an economist at Credit Suisse in New York. “We’ve been stuck in a range for most of the year. It doesn’t tell you that the layoff trend has improved dramatically this year.â€Â
Source: Bloomberg
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