Jobless Claims Tick Up as U.S. Labor Market Remains Tight
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The U.S. labor market is still signaling progress even with an increase in filings for unemployment benefits last week, Labor Department figures showed Thursday.
A shortage of qualified workers is making employers reluctant to let go of the people they already have, keeping the underlying trend in jobless claims near the lowest level in more than four decades. While weekly data can be volatile, other recent reports such as monthly hiring and job openings show demand for labor remains solid. That’s among reasons why consumer spending and economic growth are projected to rebound this quarter after a relatively weak start to the year.