Washington — The number of people in the US filing applications for unemployment benefits fell more than expected last week, pointing to still strong labour market conditions, though the pace of job growth has slowed after 2018’s robust gains.
The Federal Reserve held interest rates steady on Wednesday and its policymakers abandoned projections for further rate increases in 2019 , noting that “growth of economic activity has slowed from its solid rate in the fourth quarter”. The four-week moving average of initial claims, considered a better measure of labour market trends as it irons out week-to-week volatility, rose 1,000 to 225,000 last week.
A trade war between the US and China, slowing global growth and uncertainty over Britain’s exit from the EU are also hurting domestic economic activity.
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