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Jobless Claims Are Up


The number of new claims for unemployment benefits rose last week, while the underlying trend shows a continuing strengthening of labor market conditions. Data also shows acceleration in wage growth was imminent, because labor costs recording their largest increase in more than five and half years during the second quarter. Yelena Shulyatyeva, an economist at BNP Paribas, said “Unemployment claims have come down a lot as of late and suggest that labor market conditions continue to improve.”