"It's pretty clear claims are stabilizing"
- Michael Englund, chief economist at Action Economics LLC
The number of Americans claiming for unemployment benefits declined slightly to 377,000 in the week ended June 2 from 383,000 the week before, said the Department of Labor on Thursday.
"It's pretty clear claims are stabilizing," said Michael Englund, chief economist at Action Economics LLC in Boulder, Colorado. "It's hard to make the case that there's any upward tilt to growth," so companies are being cautious, he said.
"Although the labor market appears to have stabilized, and is stronger than it was in 2011, it is not particularly robust," Steven A. Wood, chief economist at Insight Economics wrote in a note to clients.
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