You are here: Home » International » News » Economy
Business Standard

US jobless claims drop to near 45-year low; weekly jobless claims fall 9k

The tighter labour market is starting to exert upward pressure on wage growth

Reuters  |  Washington 

The number of Americans filing for unemployment benefits unexpectedly fell last week, dropping to its lowest level in nearly 45 years as the labor market tightened further, bolstering expectations of faster wage growth this year. Initial claims for state unemployment benefits decreased 9,000 to a seasonally adjusted 221,000 for the week ended February 3, the Labor Department said on Thursday. Claims fell to 216,000 in mid-January, which was the lowest level since January 1973. Economists polled by Reuters had forecast claims rising to 232,000 in the latest week. Last week marked ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, February 08 2018. 20:02 IST