The number of new claims for unemployment benefits for the week ended February 19th fell more than expected to 391,000. This is a decrease of 22,000 from the previous week and is the third week in the past month where climas have decreased.
“The labor market has been on the upswing,†Millan Mulraine, a senior U.S. strategist at TD Securities Inc. in New York. “As the pace of layoffs continues to decline, it is an indication that not only are businesses not firing as fast they used to, but they may in fact begin hiring.â€
Source: Bloomberg
