U.S. weekly jobless claims near 49-year low
The number of Americans filing for unemployment benefits fell to a near 49-year low last week.
The labor market is boosting wage growth.
“The momentum in the labor market remains strong and we expect the unemployment rate to continue to decline,” said John Ryding, chief economist at RDQ Economics in New York.
According to the Labor Department, Initial claims for state unemployment benefits dropped 8,000 to a seasonally adjusted 207,000 for the week ended Sept. 29.