Tight Talent Market Means Upward Pressure of Wages to Continue

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The Labor Department reported that 232,000 Americans have filed new claims for state unemployment benefits, a decrease of 17,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 248,000 to 249,000. The four-week moving average was 236,250, a decrease of 7,250 from the previous week’s revised average. The previous week’s average was revised up by 250 from 243,250 to 243,500.

The advance seasonally adjusted insured unemployment rate was 1.1 percent for the week, unchanged from the previous week’s revised rate. The previous week’s rate was revised down by 0.1 from 1.2 to 1.1

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