A handful of economic reports released Thursday raised hopes for an improving job market with fewer layoffs and more hiring.
Productivity slowed more than initially estimated in the first quarter of the year, a sign that employers are struggling to squeeze more work out of leaner staffs. The lower figure was expected after the government last week revised its growth estimate for the first quarter.
The number of people filing first-time jobless claims dipped for the second consecutive week but remains elevated for the year.
The number of people filing claims dropped, but the number of people out of work is still higher than it’s ever been. Great news huh?
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