U.S. job market firming; tight inventories constraining housing

U.S. job market firming; tight inventories constraining housing

Legal firm Hogan Lovells representative Nina LeClair talks to U.S. military veteran applicants at a hiring fair for veteran job seekers and military spouses at the Verizon Center in WashingtonThe number of Americans filing for unemployment benefits unexpectedly fell last week to a two-month low, pointing to labor market strength that could pave the way for the Federal Reserve to raise interest rates by December. The upbeat initial jobless claims data came a day after the U.S. central bank left interest rates unchanged but strongly signaled it could raise borrowing costs by the end of the year, citing a recent pickup in economic growth and continued progress in the labor market. "The economy is stronger than we thought with another turn tighter of the screw for the labor market.


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