New claims for unemployment benefits declined last week, indicating that the labor market remains resilient and demand for American workers is high.
Initial applications, a proxy for layoffs, fell by 4,000 to 226,000 in the week ended June 13, according to Labor Department Data released Thursday.
Although claims have lifted from the extreme lows seen last month, they remain low by historic standards. The gas price shock has not had a visible impact on the labor market. Over the past three months, employers have added an average of 188,000 workers to payrolls. The unemployment rate has remained mostly unchanged at 4.3 percent throughout the…
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