Washington: New applications for US unemployment benefits remained near a 57-year low last week, pointing to continued resilience in the American labour market even as economic conditions remain closely watched.
According to Reuters, initial claims for state unemployment benefits fell by 9,000 to a seasonally adjusted 211,000 for the week ended September 19. The four-week average also moved lower.
Labour market remains closely watched
The latest data suggest layoffs remain relatively limited. Economists are watching the labour market closely because employment conditions influence household spending and the wider US economy.
New-home sales also improve
Separately, new-home sales received support from lower prices. Builders have been adjusting prices and offering incentives in some markets as borrowing costs continue to affect potential buyers.
The figures come ahead of further economic data that investors and policymakers will assess for clues about the direction of the US economy.
Source: Reuters. citeturn0news1
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