U.S. labor market still tight; housing mired in recession

Published by
Reuters

By Lucia Mutikani WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to another month of solid job growth and continued labor market tightness despite efforts by the Federal Reserve to cool demand for workers. The weekly jobless claims report from the Labor Department on Thursday likely does not change expectations that the U.S. central bank will further scale back the size of its interest rate increases next month. It, however, poured cold water on financial market hopes that the Fed would pause its fastest rate hik…

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