The number of Americans filing applications for unemployment benefits fell to a ...
WASHINGTON - The number of Americans filing applications for unemployment benefits fell to a nearly half-century low last week, pointing to sustained labor market strength despite slowing economic growth.
Fading stimulus from a $1.5 trillion tax cut package, the United States’ trade war with China, slowing global growth and uncertainty over Britain’s exit from the European Union are casting a shadow over the economy, which in July will celebrate the longest expansion on record. The claims data have shown no significant pickup in layoffs and there have been reports of companies reluctant to let go of workers amid a growing shortage of skilled labor. The scarcity of workers contributed to a recent slowdown in hiring.
While the claims data has no bearing on March’s employment report, which is scheduled for release on Friday, economists said it bodes well for an anticipated rebound in job growth. A separate report on Thursday from global outplacement consultancy Challenger, Gray & Christmas showed planned job cuts by U.S.-based employers dropped 21 percent to 60,587 in March.
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U.S. jobless claims hit 49-year low; labor market resilientThe number of Americans filing applications for unemployment benefits fell to a nearly half-century low last week, pointing to sustained labor market strength despite slowing economic growth. Announced job cuts by U.S.-based companies in the first quarter were the highest since 2015, other data showed
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