LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

U.S. jobless claims fall to near five-month low

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Thu, Jul 20, 2017
06:24 pm
Reuters

The number of Americans filing for unemployment benefits fell more than expected last week, touching its lowest level in nearly five months, suggesting another month of strong job growth.

Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 233,000 for the week ended July 15, the Labor Department said on Thursday. That was the lowest level since February, when claims fell to 227,000, which was the best reading since March 1973.

Data for the prior week was revised to show 1,000 more applications received than previously reported. Economists polled by Reuters had forecast claims falling to 245,000.

It was the 124th straight week that claims remained below 300,000, a threshold associated with a robust labor market. That is the longest such stretch since 1970, when the labor market was smaller. The labor market is near full employment, with thejobless rate at 4.4 percent.

Claims are volatile early in the summer when automakers shut assembly plants for annual retooling. A Labor Department official said there were no special factors influencing the claims data and that no states had been estimated.

The four-week moving average of claims, considered a bettermeasure of labor market trends as it irons out week-to-weekvolatility, fell 2,250 to 243,750 last week.

Last week`s claims data covered the survey period for July`s nonfarm payrolls. The four-week average of claims fell 1,250 between the June and July survey periods, suggesting strong job gains in July.

The economy created 222,000 jobs last month, the second biggest payrolls increase this year.

Economists believe that labor market strength likely keeps the Federal Reserve on track to raise interest rates for a third time this year and announce a plan to start reducing its $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities, despite a recent ebb in inflation pressures.

Thursday`s claims report also showed the number of peoplestill receiving benefits after an initial week of aid rose 28,000 to 1.98 million in the week ended July 8. The so-calledcontinuing claims have now been below 2 million for 14straight weeks, pointing to shrinking labor market slack.

The four-week moving average of continuing claims increased 8,750 to 1.96 million, remaining below the 2 million mark for 12consecutive weeks.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:

LATEST NEWS

Haridwar Kumbh Mela 2021: 2nd Shahi Snan today; Mela inspector says difficult to ensure social distancing at 'Har Ki Pauri'

Covid 19 surge: Now, Yogi Adityanath government announces closure of UP schools till April 30

CBSE Class 10, 12 exams 2021 cancel request: BIG Assurance comes from CBSE; This is what Board says now

Stocks in Focus on April 12: TCS, Infosys, Pharma Stocks, Solara Active Pharma to Balrampur Chini; here are the 5 Newsmakers of the Day

Remdesivir export ban due to Covid 19 spike: This is what Modi government told domestic manufacturers

Vakeel Saab Collection: Blockbuster! Pawan Kalyan comeback movie sets box office on fire!

Petrol, Diesel Price Today 12-04-2021 – Rates remain unchanged for 13th day; Know latest fuel prices in Delhi, Mumbai, Kolkata and Chennai

Gold Price Today 12-04-2021: Weekly investment strategy on Gold, Silver - Outlook remains STRONG even as some Profit Booking seen on Friday; BUY bullion at these levels

CBSE Board Exam 2021 Latest News: Class 10, 12 students alert! Controller Dr. Sanyam Bhardwaj says this

Anil Singhvi’s Strategy April 12: Day support zone on Nifty is 14,675-14,700 & Bank Nifty is 32,000-32,150

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved