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U.S. jobs market tightens; inflation pressures cooling

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - The number of Americans filing for unemployment benefits fell more than expected last week, pointing to shrinking labor market slack that could allow the Federal Reserve to raise interest rates again this year despite moderate inflation growth. Inflation could remain sluggish for a while as other data on Thursday showed import prices recorded their biggest drop in 15 months in May. The Fed on Wednesday raised interest rates for the second time this year amid expectations of moderate economic growth and further strengthening in the labor market."Labor is ...

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First Published: Thu, June 15 2017. 21:31 IST