"Labor market conditions have improved in recent months"
- Federal Open Market Committee
The number of Americans claiming for unemployment benefits tumbled to 365,000 in the week ended April 28 from 392,000 the week before, said the Department of Labor on Thursday.
"The numbers allay some concern that the labor market is deteriorating," said Brian Jones, a senior U.S. economist at Societe Generale in New York.
"Labor market conditions have improved in recent months; the unemployment rate has declined but remains elevated," the Federal Open Market Committee said in an April 25 statement."The committee expects economic growth to remain moderate over coming quarters and then to pick up gradually. Consequently, the committee anticipates that the unemployment rate will decline gradually toward levels that it judges to be consistent with its dual mandate."
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