US Jobless Claims Drop

US Jobless Claims Drop

NEW YORK (Reuters) – The number of new jobless claims in the United States fell unexpectedly last week and the number of Americans on the jobless list fell to a 44-year low, indicating a rapid improvement in the labor market.
The US Department of Labor said new jobless claims fell 4,000 to a seasonally adjusted 218,000 for the week ending June 9, and the previous week’s data were unchanged.
The four-week average, a more accurate gauge of the labor market, fell 1250 to 224,250 last week. The labor market appears to have reached full or near employment, with unemployment falling to an 18-year low of 3.8%.

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