U.S. labor market remains tight despite technology sector layoffs
Weekly jobless claims fall 4,000 to 222,000Continuing claims increase 13,000 to 1.507 millionHousing starts drop 4.2% in October; permits fall 2.4%WASHINGTON, Nov 17 (Reuters) - The number of Americans filing new claims for unemployment benefits fell last week, showing widespread layoffs remain low despite a surge in technology-sector job cuts that has raised fears of an imminent recession.The weekly jobless claims report from the Labor Department on Thursday, the most timely data on the economy's health, suggested the labor market remained tight. That, together with solid consumer spending, keeps the Federal Reserve on track to continue raising interest rates, though at a slower pace amid signs inflation was starting to subside."This is a testimony to how tight the labor market remains," ...
