Normally, US economy and jobless claims is an indication of world’s largest consumer economy’s growth prospects. This week, ended July 2nd, new claims for unemployment aid dropped by 14,000 to a seasonally adjusted 418,000, according to a Labor Department data released on Thursday. The previous week’s claims were revised to 432,000 from 428,000. According to analysts, the latest US jobless claims data is a surprise and it is huge drop for first time in three weeks, much higher than anticipated.
It could have more high, if a government shutdown in Minnesota that led to 2,500 job losses, resulted in to jobless claims.
In Another job market report by Automatic Data Processing private businesses added 157,000 jobs in June.