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(MNI) WASHINGTON
WASHINGTON (MNI)

U.S. weekly jobless claims slipped by 13,000 to 553,000 in the latest week, a sign of gradual improvement in the labor market as the economy bounces back from the Covid recession.

Fed Chair Jerome Powell said the central bank needs to see a lot more job creation before it can declare the economy has made "substantial further progress" toward its goals, the Fed's criteria for tapering QE. Initial claims remain at nearly triple their pre-crisis levels.

MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
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MNI Washington Bureau | +1 202 371 2121 | pedro.dacosta@marketnews.com
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