The number of Americans filing for unemployment benefits fell last week, pointin...
FILE PHOTO: A"Help Wanted" sign sits in the window of a shop in Harvard Square in Cambridge, Massachusetts, U.S., February 11, 2019. REUTERS/Brian Snyder
Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 216,000 for the week ended Jan. 25, the Labor Department said on Thursday. Claims data for the prior week was revised to show 12,000 more applications received than previously reported. The four-week moving average of initial claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 1,750 to 214,500 last week.
Labor market strength is helping to keep the longest economic expansion, now in its 11th year, on track, despite a prolonged slump in business investment. The economy created 145,000 jobs last month after adding a massive 256,000 positions in November. The economy needs to create roughly 100,000 jobs per month to keep up with growth in the working age population.
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