Friday’s government report added to the picture of a resilient labor market, with low unemployment, relatively few layoffs and many job openings even as most economists foresee a recession nearing.
The number of people seeking U.S. unemployment benefits fell to the lowest level since 1973 last week, evidence that businesses are confident enough in the economy to hold onto their workers. The Labor Department says that applications for unemployment aid dropped 19,000 to a seasonally adjusted 235,000 last week. The four-week average, a less volatile measure, fell to 253,500. Applications…
