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Below-Forecast U.S. Jobless Claims Signal Tight Labor Market

Bloomberg business news

Fredericks, Ablin on Jobless Claims, Wage Growth

The number of Americans filing for unemployment benefits was less than estimated last week and near a four-decade low, indicating the job market remains tight, Labor Department data showed Thursday.

Firings remain historically low, as employers hold on to existing staff amid a shrinking pool of available workers and record-high openings. Benefit claims may have declined earlier this month in part due to the end of seasonal retooling in the auto sector. A robust labor market remains a primary driver of Americans’ improving attitudes about the economy and will help support consumer spending in the second half of the year.