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Showing Original Post only (View all)Jobless Claims Sink To Near 43 Year Low [View all]
Source: Reuters.com
The number of Americans filing for unemployment benefits fell last week to near a 43-year low, suggesting labor market resilience even though hiring slowed sharply in May.
The drop in jobless claims could give Federal Reserve officials more confidence that job growth will pick up.
Fed Chair Janet Yellen told lawmakers on Tuesday that the U.S. central bank believed the slowdown in non-farm payroll gains was "transitory," noting that "several other timely indicators of labor market conditions still look favorable."
"Overall labor market conditions are not as bad as one might assume based on May's non-farm payroll print alone," said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Kalamazoo, Michigan.
Initial claims for state unemployment benefits declined 18,000 to a seasonally adjusted 259,000 for the week ended June 18, the Labor Department said on Thursday
Read more: http://www.reuters.com/article/us-usa-economy-jobless-idUSKCN0Z91CB
While incomes have not gone up enough (or at all for many). there are jobs out there
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