U.S. Jobless Claims Fall as Labor Market Remains Strong

  • 2/10/2023
  • 13:27
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Washington, Dhu-AlHijjah 13, 1437, September 15, 2016, SPA -- The number of people filing initial applications for U.S. state unemployment benefits fell unexpectedly last week, the government reported Thursday, indicating sustained labor-market strength even as the pace of job creation is slowing. The Labor Department said jobless claims fell 4,000 last week to 259,000, the lowest level since mid-July. It was the 79th consecutive week that claims remained below 300,000, a level associated with strong labor-market conditions. The four-week moving average of jobless claims—a better gauge of labor-market trends because it smoothes weekly volatility—fell 1,750 last week to 261,250. The total number of people still receiving unemployment benefits fell 7,000 last week to 2.14 million. The economy created 151,000 jobs in August, far below levels seen the previous two months but still well above the 100,000 jobs that the Fed says is needed to keep up with growth in the working-age population. With the labor market near full employment, a slowdown in job growth is normal, economists say. --SPA 19:22 LOCAL TIME 16:22 GMT www.spa.gov.sa/w

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