WASHINGTON (dpa-AFX) – The labor market in the USA remains robust. Last week, the number of initial jobless claims fell by 20,000 to 201,000, the Labor Department announced on Thursday in Washington. On average, economists had expected an increase to 225,000 initial applications. Applications for aid remain at a low level.
The development on the labor market plays an important role for the monetary policy the US Federal Reserve Bank. Low unemployment supports wage developments and tends to drive inflation. The Fed has been trying for some time to get high inflation under control by raising interest rates. On Wednesday it did not raise interest rates any further, but left the door open for further increases./jsl/bgf/mis