(Bloomberg) -- U.S. filings for unemployment benefits unexpectedly declined last week, hovering close to an almost 45-year low and signaling a tight job market, Labor Department figures showed Thursday.
Highlights of Jobless Claims (Week ended Feb. 3) |
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Key Takeaways
The historically low level of jobless claims is a reminder that employers are holding on to existing staff given the difficulty finding experienced and qualified workers. Applications for jobless benefits below the 300,000 mark are considered consistent with a healthy labor market.
The latest monthly jobs report showed hiring remained vibrant entering 2018, with payrolls rising 200,000 in January and the unemployment rate holding near an almost 17-year low, which helped push up wage growth. The solid job market is one reason behind ongoing gains in consumer spending, the biggest part of the economy.
Other Details
- Prior week's continuing claims reading was 1.96 million
- Unemployment rate among people eligible for benefits held at 1.4 percent
- Claims were estimated for Maine last week, according to the Labor Department
--With assistance from Jordan Yadoo
To contact the reporter on this story: Shobhana Chandra in Washington at schandra1@bloomberg.net.
To contact the editors responsible for this story: Scott Lanman at slanman@bloomberg.net, Vince Golle
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