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U.S. labor market tightening; mid-Atlantic factory activity picks up

Reuters  |  WASHINGTON 

By Lucia MutikaniWASHINGTON (Reuters) - New applications for U.S. jobless benefits increased more than expected last week, but the number of Americans on unemployment rolls fell to its lowest level since 1973, pointing to diminishing labor market slack.Other data on Thursday showed an acceleration in mid-Atlantic factory activity this month, with manufacturers saying they were boosting employment and asking for higher prices for their products. The combination of a tightening labor market and firming inflation bolsters expectations the Federal Reserve will raise interest rates next month."The ...

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First Published: Thu, May 17 2018. 21:14 IST