7 years ago

Jobless claims unexpectedly fall as labor market tightens

Wibbitz Top Stories
Wibbitz Top Stories
U.S. private employers boosted hiring in May and new applications for jobless benefits fell last week, increasing the economic outlook for the second quarter.
Another report showed planned layoffs by U.S.-based employers fell 53 percent to a five-month low last month.
The steady stream of positive data suggests the economy is regaining momentum, which could allow the Federal Reserve to raise interest rates later this month or in July.
Jobless claims have now been below 300,000 for 65 straight weeks, the longest streak since 1973.