Initial claims for state unemployment benefits dropped 19,000 to a seasonally adjusted 238,000 for the week ended April 29, the Labor Department said. Claims have now been below 300,000, a threshold associated with a healthy labour market, for 113 straight weeks. That is the longest such stretch since 1970, when the labour market was smaller. The labour market is close to full employment, with the unemployment rate at a near 10-year low of 4.5%. The Fed on Wednesday kept its benchmark overnight interest rate unchanged and said it expected labour market conditions would "strengthen somewhat further".

Source: Bangkok Post May 04, 2017 13:30 UTC