Jobless claims sink to 1969 low as U.S. labor market stays resilient

U.S. weekly unemployment-benefit claims fell to 187,000 for the week ending July 18, the lowest since Sept. 1969 and well below forecasts, signaling a still-tight labor market despite higher energy costs. The four-week moving average dropped to 207,500, while the June report showed only 57,000 new jobs and the unemployment rate at 4.2%, aided in part by people leaving the labor force. Energy-price pressures and potential war-related disruptions could pose risks to hiring going forward.