US Jobless Claims Decline, Boosting First-Quarter GDP Revision
TL;DR Summary
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, indicating continued strength in the labor market. Initial claims dropped to 239,000, lower than economists' forecast of 265,000. Job growth has been driven by the services sector, including leisure and hospitality, as well as healthcare and education. The number of people receiving benefits after an initial week of aid also decreased, suggesting shorter spells of unemployment. Additionally, the first-quarter GDP was revised higher to a 2.0% annualized rate, up from the previously reported 1.3% pace.
- US weekly jobless claims fall; first-quarter GDP revised higher By Reuters Investing.com
- Initial jobless claims unexpectedly fall after two-week lull Seeking Alpha
- Applications for jobless benefits in the U.S. retreat after three weeks of elevated claims The Washington Post
- Jobless claims in U.S. drop to four-week low of 239,000. Still no sign of recession MarketWatch
- Applications for jobless benefits in the U.S. retreat after three weeks of higher claims The Hill
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