Weekly Jobless Claims Fall Sharply Amid Economic Boom

Weekly jobless claims fell significantly last week signaling the labor market is holding strong against empty warnings from the left regarding a recession.

WASHINGTON, (Reuters) – – The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession. 

Initial claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 209,000 for the week ended Aug. 17, the Labor Department said on Thursday. Data for the prior week was revised to show 1,000 more applications received than previously reported. 

Continue reading the full article at Reuters.

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