U.S. jobless claims drop to 41-1/2-year low

[trottigy]

http://www.reuters.com/article/2015/07/23/us-jobless-idUSKCN0PX1EO20150723

 

 

The number of Americans filing new applications for unemployment benefits last week fell to its lowest level in more than 41-1/2 years, suggesting the labor market maintained a solid pace of job growth in July.

 

The sturdy jobs picture together with a strengthening housing market brings the Federal Reserve a step closer to raising interest rates this year.

 

Initial claims for state unemployment benefits declined 26,000 to a seasonally adjusted 255,000 for the week ended July 18, the lowest level since November 1973, the Labor Department said on Thursday. Claims for the prior week were unrevised.

 

The four-week moving average of claims has been below the key 300,000 mark, which is normally associated with sturdy job gains, for 17 straight weeks - an unusually long stretch.

 

Payrolls increased 223,000 in June after rising 254,000 in May. Job growth has exceeded 200,000 in 14 of the last 16 months and at 5.3 percent, the unemployment rate is close to the 5.0 percent to 5.2 percent range that most Fed officials consider consistent with full employment.

 

 

Soon - Peace AND SECURITY.  

 

EDIT: Now if only Greece could get things together.   

Edited July 23, 2015 by trottigy