Jobless-Benefit Rolls at 28-Year Low Show U.S. Labor Tightness
U.S. PPI Exceeds Forecast at 0.5% in April
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A decline in U.S. jobless-benefit rolls to a 28-year low adds to signs of a tight labor market, as initial unemployment claims also remained subdued, Labor Department figures showed Thursday.
The decline in jobless-benefit rolls dovetails with a drop in the unemployment rate, signaling the labor market continues to strengthen. Initial claims have been below 300,000 since early 2015, rounding out the overall picture of solid economic growth. The continued evidence of a tight labor market is supporting forecasts the Federal Reserve will raise interest rates again next month.