New York CNN —
US stocks surged Thursday after new data on the labor market suggested that the economy may not be headed into the downward spiral that traders feared.
First-time claims for unemployment benefits fell last week to 233,000 from the prior week’s upwardly revised total of 250,000, according to Department of Labor data released Thursday.
“Anything in that range tends to suggest a fairly healthy labor market,” wrote economist Joseph Brusuelas on X Thursday morning.
Economists had expected 240,000 initial claims for unemployment insurance for the week ending August 3.
The good
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