Tightening Labor Market?
June 25, 2018
Unemployment claims have declined for four straight weeks according to the latest data. The number of Americans filing for unemployment benefits unexpectedly fell again last week, pointing to a further tightening of labor market conditions. Many economists see more and more data points signaling the U.S. labor market is tightening. The labor market is currently viewed as being near or at full employment. The unemployment rate has dropped by three-tenths of a percentage point this year and is near the Fed’s earlier forecast of 3.6 percent by the end of 2018.