[Ed. – A ‘problem’ Democrats plan to repair if they win the White House by raising taxes and spending hundreds of trillions (with a ‘T’) of taxpayer dollars on pipe dreams.]
The number of Americans filing applications for unemployment benefits fell to a five-month low last week, suggesting the labor market remains strong despite slowing job growth.
Initial claims for state unemployment benefits declined 15,000 to a seasonally adjusted 204,000 for the week ended Sept. 7, the lowest level since April, the Labor Department said on Thursday. The drop in claims was the largest since May.
Data for the prior week was revised to show 2,000 more applications received than previously reported. Economists polled by Reuters had forecast claims slipping to 215,00 in the latest week.
The claims data covered the Labor Day holiday. Claims tend to be volatile around public holidays and the sharp drop last week could be exaggerating labor market strength. The Labor Department said no states were estimated last week.