Applications for US jobless aid fell to 3-month low of 232K

Applications for US jobless aid fell to 3-month low of 232K

Applications for US jobless aid fell to 3-month low of 232K

While the raft of upbeat economic data support an interest rate hike next month, the Federal Reserve's decision will also hinge on the state of financial markets, which have been rattled in recent days by Trump administration scandals.

The Labor Department said Thursday claims for unemployment benefits fell 4,000 to 232,000.

Claims have now decreased for three consecutive weeks. Economists surveyed by The Wall Street Journal had forecast 240,000 new claims.

Claims have now been below 300,000, a threshold associated with a healthy labor market, for 115 straight weeks. That's the longest such streak since 1970. The figure has fallen 12 percent in the past year.

Why did Trump want a private conversation with Comey?
That's because opposing the President is a hard proposition for Republicans, who are loathe to cross the leader of their party. She also said she does not agree with contentions that the investigation is being spurred by Democrats trying to hurt Trump.

Continuing claims, a reading on the number of people receiving ongoing unemployment assistance, slid to their lowest level since November of 1988. Data on continuing claims are released with a one-week lag. This year, the job gains have averaged 185,000 a month - the same pace as in 2016.

The U.S. economy has been creating new jobs at a rapid clip for the past six years, knocking the unemployment rate below 5% and helping millions of Americans to recover from the worst recession in decades. 13, the Labor Department said on Thursday.

KEY DRIVERS: Hiring has remained steady, despite the first quarter's slow growth. In addition, a gauge of future US economic activity rose again in April. Prices of U.S. Treasuries were trading lower.

Though the employment index fell three points, factories increased hours for workers.

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