U.S. Initial Claims Fall Last Week, Easing Fears of Deteriorating Job Market
U.S. initial jobless claims fell last week as layoffs remained low, which may help ease concerns that the labor market is deteriorating. Initial claims fell by 5,000 last week to a seasonally adjusted 227,000, the U.S. Labor Department said Thursday, below market expectations. Claims have hovered around the 230,000 level since falling back from an 11-month high in late July as seasonal distortions from the auto industry and Hurricane Beryl faded. Although job openings fell to their lowest in 3½ years in July, they still show no signs of deterioration in the labor market.
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