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Jobless Claims in U.S. Hold Below 300,000 for a 14th Week


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Applications for U.S. unemployment benefits remained below 300,000 for a 14th straight week, a sign of labor market strength that will help fuel U.S. growth.

 

Jobless claims rose by 2,000 to 279,000 in the week ended June 6, a Labor Department report showed Thursday in Washington. The median forecast of 48 economists surveyed by Bloomberg called for 275,000. The four-week average of initial applications also crept up.

 

The data indicate employers are retaining workers in anticipation of a pickup in demand this quarter after a slow start to the year. Combined with a spring spurt in payrolls, the employment picture bodes well for household spending, the biggest part of the economy.

 

“There’s not much going on in the way of layoffs, they remain low,” said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez Inc. in New York, who projected claims of 280,000. “The labor market is reasonably good. Consumer spending is getting support from the labor market clearly and from some income growth.”

 

Another report Thursday showed a pickup in May retail sales. The Commerce Department said purchases last month jumped 1.2 percent, reflecting broad-based gains from auto dealers to clothing retailers to department stores, after a 0.2 percent April gain.

 

http://www.bloomberg.com/news/articles/2015-06-11/jobless-claims-in-u-s-hold-below-300-000-for-a-14th-week

 

Come on "peace and security"!!!!


Edited by trottigy
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