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U.S. economic outlook brightens as job market tightens

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - New applications for U.S. jobless benefits unexpectedly fell last week and the number of Americans on unemployment rolls tumbled to a 28-1/2-year low, pointing to rapidly shrinking labor market slack.The economy's brightening prospects were further boosted by other data on Thursday showing a sharp acceleration in factory activity in the mid-Atlantic region in May as manufacturers reported a jump in goods shipments and more hours for workers. In addition, a gauge of future U.S. economic activity rose again in April.The raft of upbeat economic data ...

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First Published: Thu, May 18 2017. 21:58 IST
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