Drop in jobless claims eases labor market fears
WASHINGTON (Reuters) – The number of Americans submitting new applications for jobless benefits edged down last week, easing concerns the labor market was deteriorating after surprisingly weak employment growth in April. Another report on Thursday showed the U. S. trade deficit widened in March, with exports surging to a record high and a rise in imports highlighting the economy’s firming underlying demand. Together, the reports indicated the economy remains on a moderate growth path, despite the softer jobs growth and signs the service sector slowed in April. . . .
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