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Jobless Claims in U.S. Fall to Lowest Level in Four Decades - Bloomberg Business
"The fewest Americans in four decades filed applications for unemployment benefits last week, continuing to unwind an early-July surge that was probably tied to mid-year factory shutdowns and school vacations.
Jobless claims plunged by 26,000 to 255,000 in the week ended July 18, the fewest since November 1973, a report from the Labor Department showed on Thursday in Washington. The median forecast of 47 economists surveyed by Bloomberg called for 278,000. Volatility is typical for this time of year as auto plants retool for the new model year and school staff varies with summer holidays, a department spokesman said as the data was released to the press..."
More:
"...“Companies are holding on to employees because they’re needed not just to satisfy current demand but also for growth initiatives,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit, who is among the best claims forecasters over the past two years, according to data compiled by Bloomberg. “It’s yet another sign we’re likely to see solid economic expansion in the second half...”"
"The fewest Americans in four decades filed applications for unemployment benefits last week, continuing to unwind an early-July surge that was probably tied to mid-year factory shutdowns and school vacations.
Jobless claims plunged by 26,000 to 255,000 in the week ended July 18, the fewest since November 1973, a report from the Labor Department showed on Thursday in Washington. The median forecast of 47 economists surveyed by Bloomberg called for 278,000. Volatility is typical for this time of year as auto plants retool for the new model year and school staff varies with summer holidays, a department spokesman said as the data was released to the press..."
More:
"...“Companies are holding on to employees because they’re needed not just to satisfy current demand but also for growth initiatives,” said Russell Price, a senior economist at Ameriprise Financial Inc. in Detroit, who is among the best claims forecasters over the past two years, according to data compiled by Bloomberg. “It’s yet another sign we’re likely to see solid economic expansion in the second half...”"
