Free Republic

WASHINGTON : The US employment outlook brightened after the government said jobless claims dropped last week to the lowest since ’00, bolstering expectations for strong numbers in the April jobs report. The dollar closed broadly higher on the unexpectedly rosy number and bond yields rose as markets bet the Federal Reserve will hike interest rates this summer as the economy warms. The picture of a better jobs climate was also backed by an unexpected increase in unit labour costs in the first quarter, alongside respectable productivity growth of 3.5%. First-time claims for state unemployment benefits shrank 25,000 to 315,000 in...