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US labour market tightens; goods trade deficit widens

Data on labour market industrial suggest economy regained momentum at the start of second quarter

Reuters  |  WASHINGTON 

The number of Americans filing for unemployment benefits rose slightly last week and the four-week moving average of claims hit a 44-year low, suggesting a further tightening of the labour market that could encourage the Federal Reserve to raise interest rates next month. The economy's brightening prospects were, however, dimmed somewhat by other data on Thursday showing the goods trade deficit widening in April and inventories decreasing, prompting analysts to pare their second-quarter GDP growth estimates. "Businesses are wisely hoarding labour and not laying off ...

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First Published: Thu, May 25 2017. 22:04 IST