Despite falling unemployment claims, housing market still tight
Fox News
Unemployment rates are declining, evidenced by an unexpected dip in new jobless claims, according to the Federal Reserve, although homebuilding and manufacturing outlooks remain bleak.
"It is a frustrating reminder for the Fed that the labor market remains tight as employers hold onto workers," said Matthew Martin, a U.S. economist at Oxford Economics in New York. "We don't expect a spike in initial jobless claims even as the economy slows."
Initial claims for state unemployment benefits dropped 15,000 to a seasonally adjusted 190,000 for the week ended Jan. 14, the lowest level since September. Economists polled by Reuters had forecast 214,000 claims for the latest week.
More Related News