There apparently is a slowdown in the labor market with unemployment claims going up last week. The Labor Department reported today that increased 8,000 to a seasonally adjusted 285,000 for the week ended Jan. 30.
Claims remained below 300,000 for the 48th straight week. That is the longest run since the early 1970s. Economic growth slowed to a 0.7 percent annual pace in the fourth quarter. January’s employment report is scheduled to be released on Friday, February 5. The unemployment rate is forecast holding steady at a 7-1/2-year low of 5 percent.
U.S. Bureau of Labor Statistics