New applications for U.S. unemployment benefits recorded their biggest drop in nearly two years last week, pointing to a further tightening in the labor market.
Initial claims for state unemployment benefits declined 25,000 to a seasonally adjusted 234,000 for the week ended April 1, the Labor Department said on Thursday. The drop was the largest since the week ending April 25, 2015.Tightening job market inevitably leads to higher wages. I expect to see the lamestream media emphasize how bad this will be for the economy. News for Democrats: jobs matter more than transgender bathrooms.