Washington — The number of Americans filing applications for unemployment benefits dropped from a near 18-month high last week, pointing to sustained labour market strength that should continue to underpin the economy. Initial claims for state unemployment benefits tumbled 19,000 to a seasonally adjusted 234,000 for the week ended February 2, the labour department said on Thursday. Claims jumped to 253,000 in the prior week, the highest reading since September 2017, amid layoffs in the service industry in California. A 35-day partial shutdown of the federal government as well as difficulties adjusting the data around moving holidays like Martin Luther King Jr Day, which occurred later this year than in the past also likely contributed to the spike in filings. The government shutdown ended on January 25 after President Donald Trump and Congress agreed to temporary government funding, without money for his US-Mexico border wall. Economists polled by Reuters had forecast claims falling...
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