The number of Americans filing for unemployment benefits fell last week for the first time in a month and producer prices unexpectedly rose in June, likely keeping the Federal Reserve on track for a third interest rate increase this year. Persistently low layoffs point to a buoyant labour market that is sustaining economic growth, while the uptick in producer prices suggests a recent moderation in inflation was likely temporary. Initial claims for state unemployment benefits dropped 3,000 to a seasonally adjusted 247,000 for the week ended July 8, the Labor Department said on ...
US weekly jobless claims drop; producer prices unexpectedly rise in June
Fed Chair Janet told lawmakers that economy was healthy enough for central bank to raise rates