US Initial Jobless Claims Tick Down; Labor Market Remains Stable
MT Newswires Live07-09
US initial jobless claims fell by 2,000 to 215,000 in the week ended July 4, the Labor Department said Thursday, seasonally adjusted; the prior reading was revised up to 217,000.
After rising in late May and early June, claims have retreated, and most economists view the earlier increase as noise. Despite a sharp slowdown in June payrolls and downward revisions to April and May nonfarm employment, economists say the labor market has not materially changed and remains in a "slow hiring, slow firing" mode.
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