Jobless Claims in US Declined by 11000 to 457000
Jobless Claims in US Declined by 11000 to 457000
The number of Americans filing claims for the first time, for unemployment insurance fell to 457,000, a figure that denotes that the labor market will be slow on improving even when the economy improves.
Initial jobless claims came down by 11,000 in the week ended July 24 from a revised 468,000. The number of citizens receiving joblessness benefits rose, while those getting extended payments decreased.
A slow pace of economic growth as observed by companies such as International Paper Co. may put off businesses from adding to payrolls.
“The underlying pace of claims has not made any measurable improvement,” said Ellen Zentner, senior U.S. macro economist at Bank of Tokyo-Mitsubishi UFJ Ltd. in New York.
“Businesses are investing in equipment but other than that there’s little impetus for them to hire”, she said.
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